Kosdaq surged on Tuesday, triggering a temporary halt on program buy orders, known as a sidecar, for the first time in about a month after a similar move on the KOSPI.
The Korea Exchange said the effectiveness of program buy bids was suspended for 5 minutes at about 2:08:51 p.m. due to moves in the Kosdaq 150 futures price and the Kosdaq 150 index.
A Kosdaq sidecar is triggered when the Kosdaq 150 futures price rises at least 6 percent from its reference price and the Kosdaq 150 index rises at least 3 percent from the previous trading day’s closing level, with both conditions persisting simultaneously for 1 minute.
At the time of the trigger, Kosdaq 150 futures rose 111.20 points, or 6.06 percent, from the previous day’s close, while the Kosdaq 150 index gained 109.45 points, or 5.99 percent.
The Kosdaq buy-sidecar was last triggered on March 6, about a month earlier.
Oh Sang-yup
yub@d-today.co.kr