Seoul: South Korea’s bourse operator activated a circuit breaker for the benchmark Korea Composite Stock Price Index (KOSPI) as stocks crashed due to a slump in tech heavyweights. Trading of KOSPI-listed shares was halted for 20 minutes.
According to Yonhap News Agency, the Korea Exchange (KRX) triggered the measure at around 12:10 p.m. after the KOSPI plummeted more than 8 percent from the previous session’s close. The benchmark index experienced heavy selling pressure as investors dumped large-cap technology stocks on profit-taking.
This incident marked the fifth time this year that the KRX has activated a circuit breaker, reflecting ongoing volatility in the market. The sharp fall indicates a significant reaction among investors, particularly in the technology sector, prompting the bourse operator to intervene and stabilize trading conditions.