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Buy-Side Sidecar Activated for South Korea’s KOSPI and KOSDAQ Markets After Significant Surge

South korea: South Korea's main bourse operator on Thursday issued buy-side sidecars on the stock market, temporarily halting trading of futures after a sharp rise. Program trading of the benchmark Korea Composite Stock Price Index (KOSPI) was suspended for five minutes at 9:06 a.m., according to the Korea Exchange (KRX).

According to Yonhap News Agency, the KOSPI 200 Futures index rose 82.6 points, or 10.84 percent, to 844 at that time. This marked the first buy-side sidecar since February 3. A buy-side sidecar is triggered when the KOSPI 200 Futures index increases by 5 percent or more for at least one minute.

The operator also issued a buy-side sidecar for the secondary Korea Securities Dealers Automated Quotation (KOSDAQ).

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