KOSDAQ 5.47% surge triggers successive buy-side sidecars
7Month 10day, as the KOSDAQ rose by 5.47%, a buy-side sidecar was triggered, and Samsung Electronics surged by 7%. 7Month 12day, JPMorgan filed disclosures of its holdings in KOSDAQ materials, parts, and equipment names such as Lino Industrial. Trading restrictions and foreign ownership filings shook the market trend that day.
7Month 10day, as the KOSDAQ rose by 5.47%, a buy-side sidecar was triggered. For investors, the key point is that trading restrictions have continued to follow.
The KOSDAQ index closed at 43.43points higher, at 837.43. The KOSPI also posted a rise in the 5% range on the same day.
Buy-side sidecars were triggered in succession in the KOSPI and KOSDAQ. Samsung Electronics surged by 7%, and the semiconductor sector as a whole showed strength.
Top 1% of investors were confirmed to have engaged in concentrated net buying of SK hynix. The concentration of large investors’ buying appeared in a disclosure.
7In 12on the same day, JPMorgan reported that it held shares in Kosdaq materials, parts, and equipment companies, including Reno Industrial. The disclosure said that stakes in some stocks exceeded 5%.
The exchange announced that it would apply a buy-side circuit breaker to stocks subject to overheated trading. For some stocks, trading halts were applied repeatedly.
This sharp rise and the foreign shareholding disclosures brought immediate changes to market trading. Investors should trade while checking disclosures and trading restrictions.