KRX activates buy-side sidecar for KOSPI on sharp rise
Officials work at a dealing room of Hana Bank in Seoul, Tuesday. Yonhap
By Yonhap
Korea's bourse operator on Tuesday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index rose sharply.
Program trading for the KOSPI-listed shares was suspended for five minutes at 9:06 a.m., according to the Korea Exchange (KRX).
After opening 4.55 percent higher, the KOSPI added 240.01 points, or 4.78 percent, to 5,258.86 as of 9:10 a.m.
The index rallied on strong tech gains following overnight gains on Wall Street driven by eased military tensions in the Middle East.
A buy-side sidecar is triggered when the KOSPI 200 Futures Index rises 5 percent or more for at least one minute.