South korea: South Korea's bourse operator Monday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the index spiked sharply, boosted by a peace deal agreement reached between the United States and Iran. Program trading for the KOSPI-listed shares was suspended for five minutes shortly after the market opened.
According to Yonhap News Agency, the KOSPI rose 327.7 points, or 4.03 percent, to 8,451.32 as of 9:07 a.m. The KOSPI sharply gained ground as investors scooped up blue chip tech shares after U.S. President Donald Trump said the U.S. and Iran have reached a deal to end their monthslong war in the Middle East and reopen the Hormuz Strait. A formal signing ceremony is expected to take place Friday.
A buy-side sidecar is triggered when the KOSPI 200 Futures index increases 5 percent or more for at least one minute.