Kosdaq surged intraday, triggering a buy sidecar.
The Korea Exchange said a buy sidecar, which temporarily suspends program buy orders, was triggered on the Kosdaq market at 10:28:08 a.m. on Aug. 3.
At the time of the trigger, Kosdaq 150 futures rose 75.80 points, or 6.41 percent, to 1,257.30 from the previous close of 1,181.50.
The Kosdaq 150 index also rose 38.12 points, or 3.13 percent, to 1,252.72 from the previous close of 1,214.60.
Kosdaq 150 futures and the spot index met the trigger conditions, suspending the effect of program buy orders for the next 5 minutes.
A sidecar is a system that temporarily suspends the effect of buy or sell orders to prevent program trading from amplifying market volatility when futures and spot prices swing beyond a certain level.
After domestic stocks experienced extreme volatility last month with repeated buy and sell sidecars and circuit breakers, market safeguards were activated again on the first trading day of this month.
Sangyeob Oh
yub@d-today.co.kr