KRX activates buy-side sidecar for KOSPI on sharp rise
Program trading suspended for five minutes after KOSPI 200 Futures Index rises 5 percent
Quick Look
South Korea's Korea Exchange activated a buy-side sidecar for the KOSPI on Tuesday as the index rose 4.78 percent to 5,258.86, suspending program trading for five minutes at 9:06 a.m. following strong tech gains driven by eased Middle East military tensions.
AI-generated summary
Why It Matters
The Korea Exchange activated a buy-side sidecar for the benchmark KOSPI index as it rose sharply on Tuesday. A buy-side sidecar is triggered when the KOSPI 200 Futures Index rises 5 percent or more for at least one minute.
SEOUL, Nov. 10 (Yonhap) -- South Korea's bourse operator on Tuesday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index rose sharply.
Program trading for the KOSPI-listed shares was suspended for five minutes at 9:06 a.m., according to the Korea Exchange (KRX).
After opening 4.55 percent higher, the KOSPI added 240.01 points, or 4.78 percent, to 5,258.86 as of 9:10 a.m.
The index rallied on strong tech gains following overnight gains on Wall Street driven by eased military tensions in the Middle East.
A buy-side sidecar is triggered when the KOSPI 200 Futures Index rises 5 percent or more for at least one minute.
Open Questions
- What specific tech stocks drove the KOSPI gains?
- How long will program trading remain suspended?
- What specific Middle East tensions eased and how?
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