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KRX activates buy-side sidecar for KOSPI amid sharp rise

Created at 21 Jul · 4:06 AM1 source↑ Market-relevant
IN SHORT

South Korea's bourse operator, KRX, activated a buy-side sidecar for the KOSPI index on Tuesday due to a sharp rise, suspending program trading for five minutes. The index surged over 4% led by tech gains.

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Key Numbers

5 percentKOSPI 200 Futures index rise threshold
1 minuteduration for futures index rise
5 minutesprogram trading suspension duration
0.58 percentKOSPI opening gain
267.04 pointsKOSPI intraday gain
4.18 percentKOSPI intraday gain
6,788.51KOSPI level at 12:43 p.m.

Who's Involved

KRX
South Korea's bourse operator that activated the sidecar
Park Sang-soo
Author of the article
KRX activates buy-side sidecar for KOSPI amid sharp rise

↳ Why This Matters

The activation of a buy-side sidecar indicates significant volatility and rapid price movements in the South Korean stock market, prompting regulatory intervention to ensure market stability.

Key facts

  • KRX activated a buy-side sidecar for the KOSPI index on Tuesday.
  • The sidecar was triggered by a sharp rise in the index, led by tech stocks.
  • Program trading for KOSPI-listed shares was suspended for five minutes.
  • The KOSPI rose 4.18 percent to 6,788.51 by 12:43 p.m.

South Korea's benchmark Korea Composite Stock Price Index (KOSPI) experienced a sharp rise on Tuesday, prompting the Korea Exchange (KRX) to activate a buy-side sidecar. The trading halt, which suspended program trading for KOSPI-listed shares for five minutes starting at 12:41 p.m., was triggered when the KOSPI 200 Futures index climbed 5 percent or more for at least one minute. The KOSPI, which opened 0.58 percent higher, surged to 6,788.51 points, a gain of 267.04 points or 4.18 percent, as of 12:43 p.m., with tech stocks leading the advance.

Frequently asked questions

A buy-side sidecar is a trading halt mechanism activated when a specific index, like the KOSPI 200 Futures, rises by a predetermined percentage within a set timeframe, aiming to curb excessive volatility.

The KOSPI 200 Futures index rose 5 percent or more for at least one minute, which is the threshold for activating the buy-side sidecar for the KOSPI.

Program trading for KOSPI-listed shares was suspended for five minutes.

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How It Developed

The KOSPI opened 0.58 percent higher.
The KOSPI 200 Futures index rose 5 percent or more for at least one minute.
KRX activated a buy-side sidecar for the KOSPI.
Program trading for KOSPI-listed shares was suspended for five minutes.
The KOSPI rose 4.18 percent to 6,788.51 as of 12:43 p.m.

Sources

T1
KRX activates buy-side sidecar for KOSPI on sharp riseYonhap News Agency

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