A buy-side sidecar was triggered on the South Korean stock market on March 18 after KOSPI 200 futures prices surged more than 5 percent during the session.
The Korea Exchange disclosed that the temporary suspension of programme buy orders in the securities market, known as a sidecar, took effect at 2:34:13 p.m. on the day.
At the time of the trigger, the KOSPI 200 futures index was 887.25, up 5.08 percent from the previous day's close.
A KOSPI sidecar is triggered when the KOSPI 200 futures price rises by 5 percent or more from the reference price and the move lasts for 1 minute. It suspends programme buy orders for 5 minutes.
This was the first time in 6 trading sessions since March 10 that a buy-side sidecar was triggered in the securities market.
Sang-yeop Oh
yub@d-today.co.kr