KOSPI Plunges, Sell-Side Sidecar Triggered for Second Consecutive Trading Day
The KOSPI plummeted on May 18, triggering another temporary suspension of program sell orders, also known as a "sidecar."
According to the Korea Exchange, at 9:19:22 a.m. on this day, the program sell orders were suspended for five minutes due to fluctuations in the KOSPI 200 futures index. At the time of the suspension, the KOSPI 200 futures index stood at 1,112.46, down 60.24 points (5.13%) from the previous day's closing price.
This marks the first trading day that a sell-side sidecar has been triggered since the last occurrence. A sell-side sidecar is activated when the KOSPI 200 futures index falls by 5% or more and remains at that level for one minute.
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Previously, the KOSPI had surpassed 8,000 points for the first time ever on May 15, but then reversed course and at one point fell to the 7,100 range.
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