KOSPI Plunges More Than 8%, Triggering Circuit Breaker… Sell Sidecar Activated on KOSDAQ
Summary
- Fallout from the Iran situation led the KOSPI to plunge 8% from the previous session, triggering a circuit breaker, according to a filing.
- The KOSDAQ 150 futures price and the KOSDAQ 150 fell more than 6%, prompting a sell sidecar on the KOSDAQ market, it said.
- At the time the circuit breaker was triggered, the KOSPI stood at 5,132.07, down 452.8 points (8.1%) from the previous close, it added.
Forecast Trend Report by Period
Fallout from the Iran situation sent the KOSPI sharply lower, triggering a circuit breaker. The KOSDAQ market also saw a sell sidecar (temporary suspension of program sell orders) activated.
The Korea Exchange said in a filing that a circuit breaker was triggered in the main board market at 10:31:52 a.m. A circuit breaker is a measure that halts trading in all listed issues for 20 minutes. It is triggered when the KOSPI remains down 8% from the previous session for one minute. This marks the first such activation in three trading sessions, since the 4th. At the time it was triggered, the KOSPI was at 5,132.07, down 452.8 points (8.1%) from the previous close.
A sell sidecar was also triggered on the KOSDAQ market, as of 10:31:20 a.m., due to the KOSDAQ 150 futures price and the KOSDAQ 150 falling more than 6%. The measure suspended the effectiveness of program sell orders for five minutes.
Jin Young-gi, Hankyung.com reporter young71@hankyung.com
Korea Economic Daily
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