The Kospi surged more than 6 percent in early trading Wednesday, reclaiming the 7,000-point level. A buy-side sidecar was triggered on the KOSPI market just over six minutes after the opening bell as index futures prices spiked.
According to Korea Exchange, the Kospi stood at 7,290.36 as of 9:06:41 a.m. Wednesday, up 433.53 points, or 6.32 percent, from the previous session. KOSPI 200 futures rose 6.58 percent to 1,177.75 at the same time.
Korea Exchange then activated a buy-side sidecar, temporarily suspending program-trading buy asking prices following the sharp rise in KOSPI 200 futures.
kacew@heraldcorp.com
