Seoul: South Korea's bourse operator on Tuesday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the index rose sharply, bouncing back from its steep fall the previous day. Program trading for the KOSPI was suspended for five minutes shortly after opening, according to the Korea Exchange (KRX).

According to Yonhap News Agency, the KOSPI experienced a significant boost as investors eagerly purchased blue chip tech shares, encouraged by sentiment that the artificial intelligence (AI) boom is ongoing. Additionally, revived hopes for peace in the Middle East, spurred by news of a ceasefire agreement between Israel and Iran, contributed to the positive market sentiment.

The KOSPI rose by 247.84 points, marking a 3.31 percent increase to reach 7,732.25 as of 9:15 a.m. A buy-side sidecar is activated when the KOSPI 200 Futures index experiences an increase of 5 percent or more for at least one minute, reflecting significant market movements.