South korea: South Korea's bourse operator on Wednesday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the index slid sharply.
According to Yonhap News Agency, program trading for the KOSPI was suspended for five minutes around 1:16 p.m., as confirmed by the Korea Exchange (KRX). The KOSPI experienced a significant drop as investors sold off blue chip tech shares following news of new strikes launched by the United States on Iran, coupled with recent tech losses on Wall Street.
The index shed 376.63 points, or 4.65 percent, landing at 7,720.3 as of 1:17 p.m. A sell-side sidecar is initiated when the KOSPI 200 Futures index sees a decrease of 5 percent or more for at least one minute.