KRX activates sell-side sidecar for KOSPI on sharp fall
By Yonhap
The KOSPI, Kosdaq indices and won-dollar exchange rate is seen on an electronic signboard at a dealing room at Hana Bank in Seoul, Tuesday. Yonhap
South Korea's bourse operator on Tuesday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the index slid sharply.
Program trading for the KOSPI was suspended for five minutes around 11:40 a.m., according to the Korea Exchange (KRX).
The KOSPI sharply lost ground as investors dumped big-cap technology shares, tracking an overnight slump in U.S. techs.
The KOSPI shed 340.22 points, or 3.73 percent, to 8,774.33 as of 11:54 a.m.
A sell-side sidecar is triggered when the KOSPI 200 Futures index decreases 5 percent or more for at least one minute.