KOSDAQ triggers buy-side sidecar after sharp surge, second time this year

On the first trading day after the Lunar New Year holiday, the KOSDAQ jumped sharply, triggering a temporary halt to program buy orders, known as a buy-side sidecar.
The Korea Exchange activated a buy-side sidecar on the KOSDAQ market at 10:41 a.m. on the 19th.
At the time of activation, KOSDAQ 150 Futures were at 2,027.20, up 120.40 points (6.31%) from the previous session. The underlying KOSDAQ 150 Index was trading at 2,021.35, up 119.39 points (6.27%).
A KOSDAQ buy-side sidecar is triggered when KOSDAQ 150 Futures rise at least 6% from the reference price and the KOSDAQ 150 Index climbs at least 3% from the previous closing level, with both conditions sustained for one minute.
The KOSDAQ opened at 1,122.20, up 16.12 points (1.46%) from the previous session, and extended its gains. As of 11:14 a.m., it was trading at 1,153.26, up 4.27%.


koreanbae@fnnews.com Bae Han-geul Reporter