KRX activates circuit breaker for KOSPI amid sharp fall

Key facts

• South Korea's KRX activated a circuit breaker for the KOSPI index on Friday.
• The KOSPI index fell more than 8 percent.
• Trading of KOSPI-listed shares was halted for 20 minutes.
• The measure was triggered by heavy selling pressure on large-cap technology stocks.
• This is the fifth time this year the KRX has activated a circuit breaker.

South Korea's benchmark Korea Composite Stock Price Index (KOSPI) experienced a sharp decline on Friday, prompting the Korea Exchange (KRX) to activate a circuit breaker. Trading of KOSPI-listed shares was halted for 20 minutes after the index plummeted more than 8 percent from the previous session's close. The KRX had previously activated a sell-side sidecar, suspending program trading for five minutes, due to a 5.08 percent decline to 8,478.91 points. The benchmark index came under heavy selling pressure as investors engaged in profit-taking on large-cap technology stocks. This marks the fifth time this year that the KRX has activated a circuit breaker.