Breaking
Kospi Triggers Sell-Side Sidecar Again Two Days After Oct. 13 Halt
Summary
- The Kospi fell more than 5% shortly after the open, temporarily halting program sell orders.
- A sell-side sidecar was triggered after futures prices stayed down more than 5% for at least one minute.
- Shares of semiconductor heavyweights Samsung Electronics and SK Hynix fell 6.79% and 8.95%, respectively.
Program sell orders were briefly halted after the Kospi fell more than 5% shortly after the open on Oct. 15. It was the second sell-side sidecar triggered on the benchmark KOSPI market in two days, after one was activated on Oct. 13.
The sidecar, triggered at 9:07 a.m., suspended program sell orders for five minutes. The sell-side sidecar is a market-stabilization mechanism that is activated when futures prices remain down more than 5% for at least one minute.
The Kospi opened at 5,673.01 and later trimmed some of its losses. As of 9:12 a.m., the index stood at 5,694.61, down 314.20 points, or 5.23%, from the previous session.
Heavyweight semiconductor shares also fell sharply. As of 9:23 a.m., Samsung Electronics was trading at 216,250 won, down 15,750 won, or 6.79%, from the previous session. SK Hynix was trading at 1,292,000 won, down 127,000 won, or 8.95%.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀