(URGENT) KRX activates buy-side sidecar for KOSPI on sharp rise

The Korea Exchange (KRX) activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) on Tuesday due to a sharp rise in the index. Program trading for KOSPI-listed shares was suspended for five minutes starting at 9:06 a.m., according to The Korea Times. The sidecar is triggered when the KOSPI 200 Futures Index rises by 5 percent or more for at least one minute.

The KOSPI opened 4.55 percent higher and reached 5,258.86 by 9:10 a.m., representing an increase of 240.01 points or 4.78 percent. The rally was driven by strong gains in the tech sector following overnight increases on Wall Street, which were attributed to eased military tensions in the Middle East.

Brief written by urgent.news from The Korea Times, The Korea Times — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.