The Korea Exchange triggered a buy-sidecar on the KOSDAQ market at 11:28 a.m. Tuesday, temporarily suspending program buy orders.
It was the 38th sidecar activation on the KOSDAQ market this year and the 21st in the buy direction. At the time of activation, the KOSDAQ 150 spot index stood at 1,156.27, up 67.42 points, or 6.19 percent, from the previous trading day. Its futures price rose 66.20 points, or 6.06 percent, to 1,158.60.
The buy-side sidecar is a market stabilization mechanism that suspends the validity of on-exchange program buy orders for five minutes. In the KOSDAQ market, it is triggered when the KOSDAQ 150 spot index rises by more than 3% and the KOSDAQ 150 futures price rises by more than 6%, with this state persisting for at least one minute.
On the day, the KOSDAQ Composite Index opened at 668.48, up 0.87 points (0.13%) from the previous day, and widened its gains to reach 701.19, up 33.57 points (5.03%), by 11:35 a.m.
At the same time, the KOSPI Index was calculated at 5,299.46, up 60.33 points (1.15%) from the previous day.
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