▲ The KOSPI and other indices are displayed at the dealing room of Hana Bank in Jung-gu, Seoul, on July 16.
Following a sharp market downturn, a sidecar—a temporary suspension of program trading orders—has been triggered in both the KOSPI and KOSDAQ markets.
According to the Korea Exchange, a sell-side sidecar was activated in the KOSPI market at approximately 9:10:26 a.m. today (July 16) due to fluctuations in the KOSPI 200 futures index, halting program sell orders for five minutes.
At the time of activation, the KOSPI 200 futures index stood at 1,104.40, down 60.92 points (5.22%) from the previous trading day's closing price.
A sell-side sidecar in the KOSPI market is triggered when the KOSPI 200 futures index falls by 5% or more and maintains that level for one minute.
Subsequently, a sell-side sidecar was also triggered in the KOSDAQ market starting at 10:20 a.m. today, suspending program sell orders for five minutes.
At the time of activation, the KOSDAQ 150 futures price was 1,368.60, down 88.50 points (6.07%) from the previous day's closing price, while the KOSDAQ 150 spot index had fallen 79.66 points (5.52%) to 1,362.81.
A sell-side sidecar in the KOSDAQ market is triggered when the KOSDAQ 150 futures price falls by 6% or more from the base price and the KOSDAQ 150 index falls by 3% or more from the previous trading day's closing value, with both conditions lasting for one minute.
Yesterday, buy-side sidecars were triggered in both the KOSPI and KOSDAQ markets amid a sharp rally, but the market sentiment has reversed abruptly in just one day as the indices turned to a steep decline.
As of 10:30 a.m. today, the KOSPI is down 7.06% at 6,770.19.
The KOSDAQ index is down 4.50% at 792.09.
(Photo: Yonhap News)
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