Key facts
- South Korea's bourse operator activated a circuit breaker for the KOSPI index on Monday.
- Trading was halted for 20 minutes.
- The index fell more than 8 percent.
- Renewed tensions in the Middle East were cited as the reason for the sell-off.
- This is the seventh time this year the circuit breaker has been activated.
SEOUL, July 13 (Yonhap) -- South Korea's bourse operator activated a circuit breaker for the benchmark Korea Composite Stock Price Index (KOSPI) on Monday, halting trading for 20 minutes after the index experienced a sharp decline. The Korea Exchange (KRX) triggered the marketwide circuit breaker at approximately 1:28 p.m. when the KOSPI plunged more than 8 percent from its previous closing level. The sell-off was attributed to investor caution stemming from renewed strikes between the United States and Iran concerning the Strait of Hormuz. This marks the seventh instance this year that the KRX has implemented a circuit breaker.