'Should have bought during the 7% plunge' as KOSDAQ triggers buy-sidecar

A sidecar (futures market circuit breaker) was triggered in the KOSDAQ market on Friday, temporarily suspending the validity of programmed buy orders.

The Korea Exchange suspended the validity of programmed buy orders for five minutes, based on the time of 12:55:23 p.m., as the KOSDAQ 150 futures price and the KOSDAQ 150 spot index rose significantly.

At the time the sidecar was triggered, the KOSDAQ 150 futures price stood at 1,359.90, up 77.30 points (6.02%) from the previous day's closing price of 1,282.60. The KOSDAQ 150 spot index rose by 72.59 points (5.65%), from 1,282.89 to 1,355.48 at the same time.

This is the 34th time a sidecar has been triggered in the KOSDAQ market since the beginning of this year, and the 19th instance of a buy-side sidecar.

The KOSDAQ index closed at 760.82 on the previous day, down 7.65%. On the 16th, it opened at 772.17, up 11.35 points (1.49%), and expanded its gains, reaching as high as 799.04 during trading, bringing a recovery of the 800th mark within reach.