The Korea Exchange activated a temporary suspension of program sell orders (sell-side sidecar) in the KOSDAQ market at 9:06 a.m. on the 6th.
This is the 36th sidecar in the KOSDAQ market this year. It is the 17th in the sell direction.
At the time of activation, the KOSDAQ150 futures price fell by 87.60 points (7.84%) from the previous trading day to 1,029.00, while the KOSDAQ150 cash index dropped by 90.65 points (8.10%) to 1,027.12.
The KOSDAQ sell-side sidecar is triggered when a decline of more than 6% in the KOSDAQ150 futures price compared to the previous day and a drop of more than 3% in the KOSDAQ150 cash index persist simultaneously for at least one minute, suspending the validity of program sell orders for five minutes.
On this day, the KOSDAQ index opened at 654.43, down 23.98 points (3.53%) from the previous day, and widened its decline to 630.09, a drop of 48.32 points (7.12%), just four minutes after the opening bell.
In the KOSPI market, the Stage 1 circuit breaker was triggered three minutes after the opening. Just before activation, the index stood at 4,923.47, down 460.33 points (8.55%) from the previous day.
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