A sharp rally in the Kosdaq on Thursday triggered a temporary suspension of program buy asking prices — known as a sidecar — marking the 10th such buy-side activation this year.
Korea Exchange said the sidecar halted program buy orders for five minutes beginning at 1:58:59 p.m., triggered by simultaneous moves in the Kosdaq 150 futures and spot indexes.
At the time of activation, the Kosdaq 150 futures index stood at 1,757.60, up 101.90 points, or 6.15 percent, from Wednesday. The Kosdaq 150 spot index rose 82.68 points, or 4.94 percent, to 1,753.70.
Under Kosdaq market rules, the sidecar is triggered when the Kosdaq 150 futures price rises at least 6 percent above its base price and the Kosdaq 150 index gains at least 3 percent over the previous trading day's closing level, with both conditions holding simultaneously for one minute.
As of 2:27 p.m., the Kosdaq was up 3.72 percent from the previous session at 987.091.
moon@heraldcorp.com
