Kospi Buy Sidecar Triggered After 5% Surge; Samsung Electronics, SK Hynix Gain More Than 7%

A buy sidecar was triggered on the Kospi on August 12 after the benchmark index surged more than 5%. It was the 23rd buy sidecar issued this year.

The Korea Exchange activated the measure at 11:57 a.m., suspending the validity of institutional program-buy orders in the Kospi market for five minutes.

A buy sidecar is triggered when futures linked to the Kospi 200 rise more than 5% and hold those gains for one minute.

The Kospi stood at 6,624.88 when the sidecar was triggered. As of 12:36 p.m., it had climbed to 6,648.73, up 303.20 points, or 4.78%, from the previous session.

Samsung Electronics led the advance. Its shares were trading at 258,500 won, up 7.93% from the previous day. SK Hynix rose 7.23% to 1,528,000 won.

Among the top 10 stocks by market capitalization, all were higher except Samsung Biologics, which fell 2.55%. Samsung Electronics preferred shares gained 4.66%, SK Square rose 10.69%, Samsung Electro-Mechanics added 5.86%, LG Energy Solution advanced 2.26%, and Hyundai Motor climbed 2.11%.

Kang Kyung-ju, Hankyung.com reporter qurasoha@hankyung.com