KRX issues buy-side sidecar amid KOSDAQ's sharp increase
The benchmark KOSPI and KOSDAQ indices are displayed at Hana Bank's dealing room in Seoul, Friday. Yonhap
Korea's bourse operator activated a buy-side sidecar for the secondary KOSDAQ market on Friday as the stock index surged.
Program trading in KOSDAQ-listed shares was suspended for five minutes at 12:55 p.m., according to the Korea Exchange (KRX).
The previous day, the KOSDAQ market saw a sell-side sidecar and a circuit breaker triggered in succession during trading, with the index plunging more than 7 percent to close sharply lower.
But the index rebounded 5.27 percent to 800.90 as of Friday afternoon, reclaiming the 800-point level just a day later.
A buy-side sidecar is triggered when KOSDAQ 150 futures rise at least 6 percent from the benchmark price and the KOSDAQ 150 index gains at least 3 percent from its previous trading day's closing level, with both conditions sustained for one minute.