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

The Korea Exchange announced that it activated a sell-side sidecar on the KOSDAQ market at approximately 11:37:50 a.m. today, halting the effectiveness of program sell orders for five minutes.

At the time of activation, the KOSDAQ 150 futures price had fallen 106.70 points, or 6.01%, from the previous day's closing price to 1,667.80.

The KOSDAQ 150 spot index also dropped 93.26 points, or 5.33%, to 1,653.67.

A KOSDAQ sidecar is triggered when the KOSDAQ 150 futures price falls by 6% or more and the KOSDAQ 150 index falls by 3% or more, with these conditions persisting for one minute.

Subsequently, at 11:40:44 a.m., a sell-side sidecar was also triggered in the KOSPI market due to fluctuations in the KOSPI 200 futures index.

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

The sell-side sidecar in the KOSPI market is triggered when the KOSPI 200 futures index falls by 5% or more and this state persists for one minute.

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

(Produced by SBS Digital News)