As the domestic stock market plummeted today (July 8), program trading sell-side sidecars were triggered consecutively on both the KOSPI and KOSDAQ markets.
According to the Korea Exchange, the program sell order execution on the KOSPI market was suspended for five minutes at 1:31 p.m. today due to fluctuations in the KOSPI 200 futures index.
At the time of the trigger, the KOSPI 200 futures index was at 1,174.36, down 64.64 points (5.21%) from the previous day's closing price.
A sell-side sidecar for the KOSPI market is triggered when the KOSPI 200 futures index falls by 5% or more and maintains that level for one minute.
Shortly after, at 1:33 p.m., a sell-side sidecar was also triggered for the KOSDAQ market.
At the time of the trigger, the KOSDAQ 150 futures price was at 1,372.60, down 92.50 points (6.31%) from the previous day's closing price.
The KOSDAQ 150 spot index was at 1,365.13, down 99.09 points (6.76%).
A KOSDAQ sell-side sidecar is triggered when the KOSDAQ 150 futures price falls by 6% or more from the reference price and the KOSDAQ 150 index falls by 3% or more from the previous trading day's closing value, with both conditions lasting for one minute.
As of 1:43 p.m., the KOSPI index is at 7,248.90, down 407.41 points (5.32%).
At the same time, the KOSDAQ index is at 782.92, down 48.31 points (5.81%).
(Photo: Yonhap News)