KOSPI and KOSDAQ Trigger 'Sell-Sidecar' Amid Sharp Market Decline

The domestic stock market experienced a sharp decline during intraday trading today (June 23), leading to the consecutive triggering of "sidecars"—the temporary suspension of program sell orders—in both the KOSDAQ and KOSPI markets.

According to the Korea Exchange, a sell-sidecar was triggered in the KOSDAQ market at approximately 11:37:50 a.m. today due to fluctuations in KOSDAQ 150 futures and spot indices, halting the execution of program sell orders for five minutes.

At the time of the trigger, the KOSDAQ 150 futures price was 1,667.80, down 106.70 points (6.01%) from the previous day's closing price.

The KOSDAQ 150 spot index stood at 1,653.67, a decline of 93.26 points (5.33%).

A KOSDAQ sidecar 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 final value of the previous trading day, with both conditions lasting for at least one minute.

Shortly thereafter, at 11:40:44 a.m., a sell-sidecar was also triggered in the KOSPI market due to fluctuations in the KOSPI 200 futures index, similarly suspending program sell orders for five minutes.

At the time of the trigger, the KOSPI 200 futures index was 1,407.54, down 76.06 points (5.12%) from the previous day's closing price.

A sell-sidecar is triggered when the KOSPI 200 futures index falls by 5% or more and sustains that level for one minute.

This marks the first time since the 8th that sell-sidecars have been triggered simultaneously in both the KOSPI and KOSDAQ markets.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.