Kosdaq buy-side sidecar triggered as index posts sharp gains

Program buy orders were halted for 5 minutes after Kosdaq 150 futures jumped 6.29 percent, marking the market’s 14th buy-side sidecar this year.

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A screen in Hana Bank's trading room in central Seoul shows the Kosdaq trading at 766.81, up 15.72 points, or 2.09 percent, from the previous trading session, on July 23.

A buy-side sidecar was triggered on the Kosdaq as the index surged on Thursday, temporarily halting program buy orders to curb market volatility.

The buy-side curb, locally known as a sidecar, was activated at 2:27 p.m., according to the Korea Exchange. This is the 14th buy-side curb activated for the Kosdaq this year.

A sidecar halts program trading for five minutes when certain market indexes fluctuate beyond a designated threshold. A buy-side curb for the Kosdaq is activated when Kosdaq 150 futures rise by 6 percent or more from the previous trading day's close and the Kosdaq 150 Index rises at least 3 percent, with both conditions sustained for at least one minute.

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Kosdaq 150 futures were trading at 1,341.50 when the sidecar was triggered, up 79.50 points, or 6.29 percent, from the previous session's close. The Kosdaq 150 Index stood at 1,333.63, up 66.78 points, or 5.27 percent.

At that point, the Kosdaq had gained 4.09 percent while the Kospi was up 4.21 percent.


BY SHIN HYE-YEON [[email protected]]

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

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