KRX issues buy-side sidecar amid KOSDAQ's sharp increase

韩联社 Yonhap正文已收录本站

SEOUL, Oct. 16 (Yonhap) -- South 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.

KRX issues buy-side sidecar amid KOSDAQ's sharp increase - 1


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