Seoul: South Korea's main bourse operator issued a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) on Wednesday, temporarily halting trading on the market after a sharp rise.

According to Yonhap News Agency, program trading for KOSPI was suspended for five minutes at 2:34 p.m., as reported by the Korea Exchange (KRX). This measure was taken in response to a significant increase in the KOSPI 200 Futures index, which climbed 5 percent or more for at least one minute.

The issuance of a buy-side sidecar, which acts as a market-stabilizing mechanism, was last triggered on March 10. This tool is designed to control excessive volatility and ensure orderly trading in the market.