KRX activates buy-side sidecar for KOSPI on sharp rise
The benchmark KOSPI is displayed at a dealing room in Hana Bank, in Seoul, Tuesday. Yonhap
By Yonhap
South Korea's bourse operator on Tuesday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index sharply rose, led by tech gains.
Program trading for the KOSPI-listed shares was suspended for five minutes at 12:41 p.m., according to the Korea Exchange (KRX).
After opening 0.58 percent higher, the KOSPI rose 267.04 points, or 4.18 percent, to 6,788.51 as of 12:43 p.m.
A buy-side sidecar is triggered when the KOSPI 200 Futures index rises 5 percent or more for at least one minute.