Korea's bourse operator on Wednesday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) after the index surged, driven by gains in technology stocks.
Program trading for the KOSPI-listed shares was suspended for five minutes at 9:25 a.m., shortly after the market opened, according to the Korea Exchange (KRX).
After opening 3.85 percent higher, the KOSPI climbed 4.53 percent as of 9:27 a.m. amid hopes for a possible agreement between the United States and Iran over the Strait of Hormuz and eased woes over artificial intelligence (AI) investment.
A buy-side sidecar is triggered when the KOSPI 200 Futures index rises 5 percent or more for at least one minute.
source & further reading
koreatimes.co.kr — original article