Key facts
- South Korea's KRX activated a buy-side sidecar for the KOSPI index.
- Program trading was suspended for five minutes following a sharp market rise.
- The KOSPI index increased by 4.03% to 8,451.32.
- The market surge was attributed to a U.S.-Iran peace deal agreement.
- The deal is expected to lead to the reopening of the Strait of Hormuz.
South Korea's benchmark Korea Composite Stock Price Index (KOSPI) experienced a sharp rise on Monday, prompting the Korea Exchange (KRX) to activate a buy-side sidecar. Program trading for KOSPI-listed shares was suspended for five minutes shortly after the market opened.