Samsung Electronics and SK hynix plunge over 8%... KOSPI sell-side sidecar triggered [Market Focus]

[Financial News] Samsung Electronics and SK hynix are sharply lower in intraday trading, each tumbling more than 8%.
According to the Korea Exchange, as of 9:32 a.m. on the 9th, Samsung Electronics was trading at 173,100 won, down 8.02% from the previous session. The stock opened at 179,800 won and has been extending its losses since the start of trading.
SK hynix was also trading at 844,000 won, down 8.66% from the previous close. The share opened the session at 890,000 won and has been on a downward trend.
The Korea Composite Stock Price Index (KOSPI) opened at 5,265.37, down 319.50 points, or 5.72%, from the previous day, and at one point fell further to 5,171.53.
At around 9:06 a.m., when KOSPI 200 Index Futures fell 6.49% from the previous close to 773.90, a five-minute sell-side "sidecar" trading curb was triggered. This mechanism is activated when KOSPI 200 Index Futures drop more than 5% and stay at that level for at least one minute.
The plunge is seen as a reaction to a surge in international oil prices, amid expectations that a prolonged military standoff between the United States of America (US) and Iran will lead to an extended closure of the Strait of Hormuz.
On the New York Mercantile Exchange (NYMEX), April delivery West Texas Intermediate (WTI) crude oil futures were quoted at 107.69 dollars per barrel as of 9:20 a.m. Korea time, up 16.79% from the previous session. At the same time on ICE Futures Europe in the United Kingdom (UK), Brent crude oil futures were trading at 108.24 dollars per barrel, up 16.78% from the prior day.
yimsh0214@fnnews.com Lim Sang-hyuk Reporter