KRX activates buy-side sidecar for Kospi on sharp rise

The Korea Exchange (KRX) suspended program trading for five minutes after the Kospi jumped more than 5 percent in a sharp rebound.

Published
A screen in Hana Bank's trading room in central Seoul shows the Kospi at 6,669.44 points during intraday trading on Aug. 20, up 198.27 points, or 3.06 percent, from the previous trading session.

Korea's bourse operator on Thursday activated a buy-side trading curb, known locally as a sidecar, for the Kospi as the stock index sharply rose.

Program trading for the Kospi-listed shares was suspended for five minutes at 9:58 a.m., according to the Korea Exchange (KRX).

After opening over 3 percent higher, the Kospi gained 325.34 points, or 5.03 percent, to 6,790.39 as of 9:59 a.m.

Related Article

The index rebounded after plunging nearly 6 percent the previous session, tracking overnight gains on Wall Street as U.S. Treasury yields eased following plans for increased government debt buybacks.

A buy-side sidecar is triggered when the Kospi 200 Futures Index rises 5 percent or more for at least one minute.


Yonhap

kospi business sidecar money

Read more

See more articles