KOSPI Surges in Early Trading, Triggering 'Buy Sidecar'

The KOSPI surged in early trading following the agreement to end the war between the U.S. and Iran, triggering a temporary suspension of program buy orders, known as a "buy sidecar."

According to the Korea Exchange, the sidecar was triggered at 9:06:02 a.m. today, suspending the validity of program buy orders for five minutes due to fluctuations in the KOSPI 200 futures index.

At the time of the trigger, the KOSPI 200 futures index was at 1,365.85, up 66.00 points (5.07%) from the previous day's closing price.

A KOSPI sidecar is triggered when the KOSPI 200 futures price rises by 5% or more from the reference price and sustains that level for one minute, resulting in a five-minute suspension of program buy orders.

(Photo: Yonhap News)
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