South Korea Activates KOSPI Buy-Side Sidecar Amid Sharp Tech-Led Gains
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South Korea's bourse operator, Korea Exchange (KRX), activated a buy-side sidecar for the KOSPI index on Tuesday, suspending program trading for five minutes, as the benchmark index sharply rose by 4.18 percent, driven by tech sector gains.
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A buy-side sidecar is a market mechanism triggered when the KOSPI 200 Futures index rises 5% or more for at least one minute, suspending program trading for five minutes.
SEOUL, July 21 (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 sharply rose, led by tech gains.
Program trading for the KOSPI-listed shares was suspended for five minutes at 12:41 p.m., according to the Korea Exchange (KRX).
After opening 0.58 percent higher, the KOSPI rose 267.04 points, or 4.18 percent, to 6,788.51 as of 12:43 p.m.
A buy-side sidecar is triggered when the KOSPI 200 Futures index rises 5 percent or more for at least one minute.
