The KOSPI surged in early trading today, triggered by a "buy sidecar" following record-breaking, better-than-expected earnings from U.S. memory chipmaker Micron Technology.

The Korea Exchange suspended the execution of program buy orders in the KOSPI market for five minutes, starting at 9:07:03 a.m. today (June 25), due to the volatility of the KOSPI 200 futures index.

At the time of the trigger, the KOSPI 200 futures index stood at 1,455.56, up 79.94 points, or 5.81%, from yesterday's closing price.

A KOSPI buy sidecar is triggered when the KOSPI 200 futures price rises by 5% or more from the reference price and maintains that level for one minute.

Once the sidecar is triggered, program buy orders are suspended for five minutes.

The KOSPI is currently showing a gain of over 5%, while the KOSDAQ is up by more than 2%.

(Photo: Yonhap News)