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Finance

KOSPI ends higher at 7,760 in volatile trade; KOSDAQ surges more than 4 percent

South Korea\'s KOSPI closed slightly higher on June 11 after swinging between gains and losses, paring steep early declines. The index opened sharply lower and fell further intraday before recovering to end up 0.43 percent. Retail investors were net buyers, offsetting foreign and institutional selling. The KOSDAQ rebounded 4.76 percent, and the Korea Exchange activated a buy-side sidecar during the rally.

Finance

Kosdaq triggers buy-sidecar on surge

A buy-sidecar was triggered during trading on the Kosdaq on Wednesday after the Kosdaq 150 futures price and the spot index surged. The Korea Exchange disclosed it activated the measure at 1:58:59 p.m., suspending the effectiveness of program buy orders for 5 minutes. At the time of activation, the Kosdaq 150 futures price stood at 1,757.60 points, up 101.90 points, or 6.15 percent, from the previous close.

Finance

Kosdaq triggers circuit breaker after 8 percent plunge following KOSPI drop

South Korean shares sank on June 8 in a selloff dubbed “Black Monday,” with declines spreading from the KOSPI to the Kosdaq. The Korea Exchange said it triggered a first-stage circuit breaker on the Kosdaq after the index fell more than 8 percent from the previous close for at least 1 minute, halting trading for 20 minutes. Sell-side sidecars were also activated on both markets.