Key facts
- The KRX halted trading of KOSPI-listed shares for 20 minutes from 9:03 on November 6.
- The KOSPI fell more than 8 percent from the previous session's close before the halt, per Yonhap.
- Yonhap attributed the sell-off to concerns that Democrats' US midterm win could slow AI data center build-out.
- Yonhap said it was the tenth KRX circuit breaker activation this year.
South Korea's bourse operator on November 6 activated a circuit breaker for the benchmark Korea Composite Stock Price Index (KOSPI) after an extended sell-off in technology shares, Yonhap reported. Trading of KOSPI-listed shares was halted for 20 minutes from 9:03, as the index fell more than 8 percent from the previous session's close.
The benchmark index came under selling pressure following a technology rout on Wall Street, which Yonhap said was triggered by concerns that Democrats' sweeping victory in the US midterms could slow the pace of the build-out of artificial intelligence data centers.
Yonhap reported that it was the tenth time this year that the KRX had activated a circuit breaker. A circuit breaker halts trading on an exchange when an index moves beyond a set threshold. The report did not state the index level, the number of shares traded or any response from the KRX beyond the activation.