Buy-side sidecar activated for KOSPI, Kosdaq markets after sharp rise
Afinancial index screen in the dealing room of Hana Bank in Seoul, Thursday / Yonhap
Korea's main bourse operator on Tuesday issued buy-side sidecars on the stock market, temporarily halting trading of futures after a sharp rise.
Program trading of the benchmark Korea Composite Stock Price Index (KOSPI) was suspended for five minutes at 9:06 a.m., according to the Korea Exchange (KRX).
The KOSPI 200 Futures index rose 82.6 points, or 10.84 percent, to 844 at that time.
It marked the first buy-side sidecar since Feb. 3.
A buy-side sidecar is triggered when the KOSPI 200 Futures index increases 5 percent or more for at least one minute.
The operator also issued a buy-side sidecar for the secondary Korea Securities Dealers Automated Quotation (Kosdaq).