Seoul: The Korea Exchange (KRX) on Monday implemented a trading halt on the main bourse following a significant surge driven by technology firms. The halt was initiated to stabilize the rapidly rising market conditions.

According to Yonhap News Agency, program trading for stocks listed on the Korea Composite Stock Price Index (KOSPI) was temporarily suspended for five minutes at approximately 11:30 a.m. This intervention occurred as the benchmark KOSPI experienced a substantial increase of 379.53 points, or 4.48 percent, reaching 8,855.68 by 11:40 a.m., after starting the day at a record high.

The trading halt was activated as a buy-side sidecar, which is triggered when the KOSPI 200 Futures index shows an increase of 5 percent or more for at least one minute. This mechanism is designed to curb excessive volatility and ensure orderly market operations during periods of rapid price movements.