KOSPI Rebounds After Sharp Drop... Buy-Side Sidecar Triggered (Update)

On the 3rd, at the dealing room of Hana Bank headquarters in Jung-gu, Seoul, an employee is monitoring the stock market and exchange rates as the KOSPI started with a 3% rise, reclaiming the 5000 level just one day after a sharp plunge. On that day, the KOSPI index opened at 5114.81, up 165.14 points (3.34%) from the previous session. February 3, 2026 Photo by Jo Yongjun

The KOSPI surged on the 3rd, triggering a buy sidecar.

The Korea Exchange announced that at 9:26 a.m. that day, a buy sidecar (suspension of the effectiveness of program-trading buy orders) was triggered on the KOSPI market.

The exchange explained that the buy sidecar was activated because KOSPI 200 futures (near-month contract) rose by more than 5% from the previous day and maintained that level for one minute. From the moment of activation, the effectiveness of program-trading buy orders was suspended for five minutes, and the sidecar was automatically lifted after five minutes had elapsed.

The previous day, the KOSPI had plunged more than 5%, triggering a sell sidecar. The market tumbled after Kevin Warsh, a former Fed Governor known for his hawkish (monetary-tightening) stance, was nominated as the next chair of the U.S. Federal Reserve, but it managed to rebound on this day.

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