KRX activates sell-side sidecar for KOSPI on sharp fall
Officials work at a dealing room of Hana Bank in Seoul, Wednesday. Yonhap
Korea's bourse operator on Wednesday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index fell sharp
Program trading for the KOSPI-listed shares was suspended for five minutes at 09:06 a.m., according to the Korea Exchange (KRX).
After opening 4.96 percent lower, the KOSPI lost 384.82 points, or 5.6 percent, to 6,485.01 as of 09:07 a.m.
Investors sold off semiconductor shares, including Samsung Electronics and SK hynix, tracking overnight losses on Wall Street as stalled U.S.-Iran peace talks pushed up oil prices and bond yields.
A sell-side sidecar is triggered when the KOSPI 200 Futures Index falls 5 percent or more for at least one minute.