Summary
- The KOSPI index plunged more than 4% in early trading, triggering a sell sidecar.
- The Korea Exchange said a sell sidecar was triggered in the KOSPI market at 9:06 a.m., the first time in four trading sessions since the 2nd.
- Earlier, major U.S. indexes closed broadly lower in New York on profitability concerns in the artificial intelligence (AI) industry.
Forecast Trend Report by Period
A sell-sidecar (a temporary suspension of program trading sell quotes) was triggered after the KOSPI index tumbled more than 4% in early trading on the 6th.
The Korea Exchange (KRX) said the sell-sidecar was triggered in the KOSPI market at 9:06 a.m. The sell-sidecar is a measure designed to curb volatility by halting program selling for five minutes. It is triggered when KOSPI 200 futures remain down more than 5% from the previous session for one minute. The latest activation comes four trading sessions after the previous trigger on the 2nd, when the KOSPI fell more than 5%.
Earlier, major U.S. indexes closed broadly lower in overnight trading in New York on concerns about profitability in the artificial intelligence (AI) industry.
By Young-gi Jin, Hankyung.com reporter young71@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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