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Sidecar activated on sell-side of Kospi as volatility continues amid Iran war

Published: 09 Mar. 2026, 09:30 Updated: 09 Mar. 2026, 09:35

LIM JEONG-WON
[email protected]

A screen in Hana Bank's trading room in central Seoul shows the Kospi in the morning hours of March 9. [NEWS1]

A temporary trading curb, known locally as a sidecar, has been activated for the sell-side for the Kospi on Monday morning as Korean stocks started sharply lower amid lingering volatility in the market sparked by the Middle East conflict and rising oil prices.

The Kospi lost 319.5 points, or 5.72 percent, to 5,265.37 at the opening bell.

A sidecar halts program trading when certain market indexes fluctuate beyond a designated threshold.

The curb, activated at 9:06 a.m., lasted for five minutes.

Investors expressed concerns over instability in global energy prices, with the U.S. benchmark West Texas Intermediate (WTI) crude surpassing $100 per barrel for the first time since July 2022 on Sunday.

The Korean stock market suffered extreme volatility last week, dipping more than 10 percent.

On Wednesday, the main index crashed 12.06 percent, marking the steepest one-day decline since Sept. 12, 2001, in the aftermath of the Sept. 11 terrorist attacks in the United States.

In Seoul, top tech giant Samsung Electronics plunged 7.97 percent, and SK hynix slid 8.12 percent.

Leading carmaker Hyundai Motor moved down 9.4 percent, and Kia decreased 8.62 percent.

Battery makers opened bearish as well, with LG Energy Solution falling 4.24 percent and Samsung SDI losing 5.72 percent.

Hanwha Aerospace, on the other hand, moved up 0.95 percent.

The won weakened by 16.2 won from the previous session to trade at 1,492.6 against the dollar as of 9:15 a.m.

BY LIM JEONG-WON, YONHAP [[email protected]]