The Kospi triggered a sell-side sidecar Monday after plunging more than 4% intraday, following a similar halt on the Kosdaq, as a wave of selling centered on semiconductor stocks rapidly eroded investor confidence.
As of 11:39 a.m. Monday, the Kospi stood at 6,564.15, down 256.45 points, or 3.76%, from the previous session. The Kosdaq was also trading lower, falling 39.72 points, or 5.02%, to 752.15.
Korea Exchange activated a sell-side sidecar on the Kospi market at 11:21:26 a.m. Monday. The measure took effect after KOSPI 200 futures fell more than 5% below the previous session's close for at least one minute, suspending program sell orders for five minutes.
At the time of activation, KOSPI 200 futures stood at 1,040.00, down 56.35 points, or 5.13%, from the base price of 1,096.35.
Earlier, a sell-side sidecar was also activated on the Kosdaq market at 10:52:54 a.m. Kosdaq 150 futures fell to 1,285.40, down 84.40 points, or 6.16%, from the previous session's close of 1,369.80, meeting the threshold for activation.
hajun825@heraldcorp.com
