Bourse operator issues circuit breaker for KOSPI on sharp fall
Dealers work at a dealing room at Hana Bank in Seoul, Tuesday. Yonhap
By Yonhap
South Korea's bourse operator on Tuesday activated a circuit breaker for the benchmark Korea Composite Stock Price Index (KOSPI) as stocks crashed due to a slump in tech heavyweights.
Trading of KOSPI-listed shares was halted for 20 minutes.
The Korea Exchange (KRX) triggered the measure at around 2:33 p.m. after the KOSPI plummeted more than 8 percent from the previous session's close.
The benchmark index came under heavy selling pressure as foreign investors dumped large-cap technology stocks on profit-taking, tracking an overnight slump in U.S. tech shares.
It marked the fourth time this year that the KRX has activated a circuit breaker.