KOSPI Market Triggers Buy Sidecar... Third Time This Year
[Asia Economy Reporter Oh Ju-yeon] The Korea Exchange activated a buy-side sidecar on the KOSPI market as of 10:52 AM on the 16th.
The buy-side sidecar is triggered when the futures price rises by more than 5% and sustains for one minute, after which buy program trading orders on the KOSPI market are suspended for the next five minutes.
The exchange explained, "The KOSPI 200 futures rose from the previous closing price (reference price) of 265.00 points to 278.40 points, an increase of 13.40 points (5.05%), and sustained for one minute, triggering the sidecar."
Accordingly, buy program trading orders were suspended from 10:52 AM to 10:57 AM for five minutes.
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This year, the sidecar has been triggered a total of seven times, with this being the third buy-side sidecar activation.
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