A sell-side sidecar was triggered on the Korea Exchange's stock market Friday after the Kospi plunged in early trading.
According to Korea Exchange, program buy orders were suspended for five minutes starting at around 9:08 a.m. Friday following a sharp move in the KOSPI 200 futures index.
At the time of activation, the KOSPI 200 futures index stood at 1,309.56, down 71.84 points, or 5.20 percent, from the previous session.
A sell-side sidecar is triggered when the KOSPI 200 futures index falls 5 percent or more and holds that level for one minute.
As of 9:14 a.m. Friday, the Kospi was trading at 8,174.28, down 5.38 percent from the previous session.
moon@heraldcorp.com
