▲ The electronic board at the dealing room of Hana Bank headquarters in Jung-gu, Seoul, displays the won-dollar exchange rate, KOSPI, and Kosdaq indices on the 13th. Earlier in the day, the KOSPI fell 2 to 3 percent in early trading, extending its losing streak to five consecutive sessions.
The KOSPI plunged over 4% in early trading today (the 13th), triggering a temporary suspension of program sell orders, known as a sell sidecar.
According to the Korea Exchange, the program sell order effect in the securities market was suspended for 5 minutes starting at 9:47:58 AM today due to fluctuations in the KOSPI 200 futures index.
At the time of the trigger, the KOSPI 200 futures index stood at 955.02, down 51.20 points (5.08%) from the previous trading day's close.
A securities market sell sidecar is triggered when the KOSPI 200 futures index drops by 5% or more and persists for 1 minute.
This marks the first time a sidecar has been triggered in the KOSPI market since August 20, and the first time a sell sidecar has been activated since August 19 of the same year.
This means the index has experienced sharp volatility once again in about two months.
As of 9:49 AM, the KOSPI index was down 259.07 points (4.06%) from the previous session at 6,125.17.
At the same time, the Kosdaq fell 20.93 points (2.46%) to 828.26.
(Photo: Yonhap News)
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