Accra:Seoul South Korea's bourse operator activated a buy-side sidecar for the Korea Composite Stock Price Index (KOSPI) on Wednesday, following a significant rise in the stock index.
According to Yonhap News Agency, program trading for KOSPI-listed shares was temporarily suspended for five minutes at 1051 a.m. as reported by the Korea Exchange (KRX).
The KOSPI opened 2.05 percent higher and further surged by 247.81 points, or 4.46 percent, reaching 5,800.55 by 1102 a.m. This rebound follows a near 4 percent fall in the previous session, attributed to investor concerns over profitability from substantial investments in artificial intelligence (AI) infrastructure.
A buy-side sidecar is enacted when the KOSPI 200 Futures Index experiences a 5 percent or more increase for at least one minute.