KRX issues sell-side sidecar for KOSPI on sharp fall
A screen at the dealing room of Hana Bank’s headquarters in Seoul shows the KOSPI, Kosdaq indices and won-dollar exchange rate, Wednesday. Yonhap
Korea's bourse operator on Wednesday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the index slid sharply.
Program trading for the KOSPI was suspended for five minutes around 1:16 p.m., according to the Korea Exchange (KRX).
The KOSPI sharply lost ground as investors dumped blue chip tech shares following news that the United States has launched new strikes on Iran and on overnight tech losses on Wall Street.
The KOSPI shed 376.63 points, or 4.65 percent, to 7,720.3 as of 1:17 p.m.
A sell-side sidecar is triggered when the KOSPI 200 Futures index decreases 5 percent or more for at least one minute.