KRX activates buy-side sidecar for KOSPI on sharp rise
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The benchmark KOSPI is displayed at a dealing room of Hana Bank in Seoul, Tuesday. Yonhap
Korea’s bourse operator on Tuesday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index rose sharply.
Program trading for the KOSPI-listed shares was suspended for five minutes at 10:13 a.m., according to the Korea Exchange (KRX).
After opening 3.46 percent higher, the KOSPI gained 241.75 points, or 4.42 percent, to 5,711.22 as of 10:20 a.m.
The index rallied on the back of overnight Wall Street gains, as renewed optimism over artificial intelligence (AI) and falling oil prices boosted investor sentiment.
A buy-side sidecar is triggered when the KOSPI 200 Futures Index rises 5 percent or more for at least one minute.
