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KRX issues sell-side sidecar for KOSPI on sharp drop

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By Yonhap
  • Published KST
  • Updated KST
The screen displays the Korean won-U.S. dollar exchange rate, KOSPI and KOSDAQ indices at a dealing room at Woori Bank's headquarters in central Seoul, Monday. Yonhap

The screen displays the Korean won-U.S. dollar exchange rate, KOSPI and KOSDAQ indices at a dealing room at Woori Bank's headquarters in central Seoul, Monday. Yonhap

Korea's main bourse operator on Monday issued a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI), temporarily halting trading after a sharp plunge.

Program trading for the KOSPI was suspended for five minutes at 9:18 a.m. according to the Korea Exchange (KRX).

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

It marks the sixth time for the bourse operator to issue a sell-side sidecar this year.