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KRX activates buy-side sidecar for KOSPI on sharp rise

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By Yonhap
  • Published KST
A screen at the dealing room of Hana Bank’s headquarters in Seoul shows the benchmark KOSPI, Wednesday. Yonhap

A screen at the dealing room of Hana Bank’s headquarters in Seoul shows the benchmark KOSPI, Wednesday. Yonhap

Korea's bourse operator on Wednesday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index rose sharply, fueled by tech gains.

Program trading for the KOSPI-listed shares was suspended for five minutes at 9:06 a.m. soon after the market opened, according to the Korea Exchange (KRX).

After opening over 5 percent higher, the KOSPI rose 6.01 percent to 7,153.42 points as of 9:11 a.m.

A buy-side sidecar is triggered when the KOSPI 200 Futures index rises 5 percent or more for at least one minute.