▲ Electronic boards at the dealing room of the Hana Bank headquarters in Jung-gu, Seoul, display the KOSPI, KOSDAQ, and the won-dollar exchange rate on the 15th. On this day, the KOSPI opened at 5,673.01, down 335.8 points (5.59%) from the previous day's close of 6,008.81.
As the domestic stock market plummeted in the wake of reignited profitability controversies surrounding artificial intelligence (AI) infrastructure investments, program sell sidecars were successively triggered on both the main bourse and the KOSDAQ market.
According to the Korea Exchange, a temporary suspension of program sell orders (sidecar) was activated in the KOSPI market for 5 minutes starting at 9:07:42 a.m. today, triggered by fluctuations in the KOSPI 200 futures index.
At the time of activation, the KOSPI 200 futures index stood at 892.58, down 49.68 points (5.27%) from the previous trading day's close.
A sell sidecar on the main KOSPI market is triggered when the KOSPI 200 futures index drops by 5% or more and persists for 1 minute.
This marks the second time in two days that a sell sidecar has been triggered on the main market, following the previous activation on the 13th when the KOSPI plunged more than 7% during intraday trading.
Shortly afterward, a sell sidecar was also activated in the KOSDAQ market.
The Korea Exchange announced that it suspended the execution of program sell orders for 5 minutes starting at around 9:12:23 a.m. due to fluctuations in the KOSDAQ 150 futures price and spot index.
At the time of activation, the KOSDAQ 150 futures price was down 87.90 points (6.25%) at 1,317.20.
The KOSDAQ 150 spot index fell 91.59 points (6.52%) to 1,312.01.
A KOSDAQ sidecar is triggered when the KOSDAQ 150 futures price drops by 6% or more compared to the base price and the KOSDAQ 150 index falls by 3% or more compared to the final figure of the previous trading day, with both conditions persisting for 1 minute simultaneously.
As of 9:18 a.m., the KOSPI index is down 6.29% at 5,630.90, and the KOSDAQ index is down 6.65% at 769.12.
Samsung Electronics is trading down 7.11% at 215,500 won, and SK Hynix is trading down 8.95% at 1,292,000 won.
(Photo: Yonhap News)
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