KOSPI and KOSDAQ Surge Trigger Paired Buy Sidecar Activation... "First Time Since June 2020"

On the 6th, the domestic stock market surged sharply, triggering buy-sidecars in both the KOSPI and KOSDAQ markets.

[Image source=Yonhap News]

The Korea Exchange announced that a buy-sidecar was triggered in the KOSPI market at 9:06 a.m. that day. The KOSPI 200 futures rose from the previous closing price of 330.45P to 347.20P, an increase of 16.75P (5.06%), and this was sustained for one minute. This is the first time a buy-sidecar has been triggered in the KOSPI since June 16, 2020.

At the same time, a buy-sidecar was also triggered in the KOSDAQ. The KOSDAQ 150 futures rose from 1136.00P to 1226.80P, up 90.80P (7.99%). The KOSDAQ 150 also recorded 1218.65P, up 65.16P (5.64%) from 1153.49P, sustained for one minute. This is the first time a KOSDAQ sidecar has been triggered in nine months, since November 6 of last year.

This is the first time since June 2020 that buy-sidecars have been triggered simultaneously in both the KOSPI and KOSDAQ markets.

A sidecar is a system introduced to temporarily suspend the effectiveness of program trading orders when the futures market fluctuates sharply, in order to mitigate the impact of program trading on the spot market.

This content was produced with the assistance of AI translation services.