Accra:The Korea Exchange (KRX) implemented a buy-side sidecar for the KOSDAQ market on Friday following a significant surge in the stock index. This intervention temporarily halted program trading for KOSDAQ-listed shares for five minutes at 1255 p.m.
According to Yonhap News Agency, the activation occurred as the KOSDAQ index rebounded 5.27 percent to reach 800.90, surpassing the 800-point mark. This recovery came a day after the index experienced a sharp decline of over 7 percent, which triggered a sell-side sidecar and circuit breaker during trading.
The buy-side sidecar is triggered when KOSDAQ 150 futures rise at least 6 percent from the benchmark price, and the KOSDAQ 150 index increases by at least 3 percent from the previous trading day's closing level, with both conditions maintained for one minute.