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Finance

Nextrade to introduce volatility interruption to prevent price distortions from small orders

Nextrade (NXT) will introduce a static volatility interruption in the premarket to prevent sharp price swings caused by small orders. It will also change the post-trigger process from a temporary trading halt to a call auction that collects orders to set a price. Nextrade said it revised its rules and will implement the changes from Sept. 14. The move follows recent cases of limit-up or limit-down trades on small volumes.

Finance

KOSPI falls below 6,000, first back-to-back circuit breakers

South Korean shares tumbled for a second straight session as sell-side sidecars and circuit breakers were triggered again. The KOSPI ended down 5.98 percent at 5,663.24 after sliding as low as 5,262.77, failing to regain 6,000. The Kosdaq fell 6.12 percent. Individuals and foreigners were net sellers, while institutions bought. The won strengthened, with the dollar-won rate down 8.30 won at 1,446.90.

Finance

KOSPI falls to 5,500 level; circuit breakers triggered in both markets for second straight day

South Korea\'s KOSPI slid to the 5,500 level after breaking below 6,000, triggering a Level 1 circuit breaker for the second straight day in both the KOSPI and Kosdaq markets. The Kosdaq circuit breaker was triggered at 12:19:12 p.m., and the KOSPI at 12:32:32 p.m., after each index fell more than 8 percent. Sell-sidecar measures were also activated earlier in both markets.