KRX activates sell-side sidecar for KOSPI on sharp fall
The benchmark KOSPI and KOSDAQ indices are displayed at Hana Bank's dealing room in Seoul, Thursday. Yonhap
Korea's bourse operator on Thursday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index dropped.
Program trading for the KOSPI-listed shares was suspended for five minutes at 9:08 a.m, according to the Korea Exchange (KRX).
After opening 5.59 percent lower, the KOSPI lost 303.39 points, or 5.05 percent, to 5,705.42 as of 9:11 a.m.
Investors sold off semiconductor shares, including Samsung Electronics and SK hynix, as persisting skepticism over artificial intelligence (AI)-trade continued, amid renewed concerns over the pace of inflation in the United States.
A sell-side sidecar is triggered when the KOSPI 200 Futures Index falls 5 percent or more for at least one minute.