Key facts
- KRX activated a buy-side sidecar for the KOSPI index.
- The sidecar was triggered by a sharp 4.18% rise in the KOSPI.
- Program trading for KOSPI-listed shares was suspended for five minutes.
- The KOSPI 200 Futures index rise of 5% or more for one minute activated the mechanism.
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.