▲ The KOSPI and international oil prices are displayed on an electronic board in the dealing room of the Hana Bank headquarters in Jung-gu, Seoul, on the 13th.
The KOSPI plunged more than 4% in early trading, triggering a temporary suspension of program sell orders, commonly known as a "sell sidecar."
The Korea Exchange announced that it temporarily suspended the validity of program sell orders on the Korea Composite Stock Price Index (KOSPI) market for 5 minutes, starting at 9:47:58 a.m. today (the 13th), as the KOSPI 200 futures index plummeted.
At the time of activation, the KOSPI 200 futures index was down 51.20 points, or 5.08%, at 955.02 compared to the previous trading day.
A sell sidecar in the securities market is triggered when the KOSPI 200 futures index falls by 5% or more and that state persists for 1 minute.
This is the first time a sidecar has been triggered in the KOSPI market since August 20.
Limiting the scope to sell sidecars alone, it is the first time since August 19, marking a sharp index volatility once again in about two months.
As of 9:49 a.m., the KOSPI was down 259.07 points, or 4.06%, at 6,125.17 compared to the previous trading day.
At the same time, the KOSDAQ index was also down 20.93 points, or 2.46%, at 828.26.
(Photo: Yonhap News)
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