Amid escalating US-Iran clashes, KOSPI 4~5% plunge
KOSPI and KOSDAQ plunged during the session on news of escalating US-Iran military clashes, triggering a sell-sidecar as futures plunged (5.21%). Foreign net selling and a shift by individual investors to selling widened the decline.
On news of escalating US-Iran military clashes, KOSPI plunged by 4~5%, triggering a temporary suspension of program sell orders, known as a sidecar, during the session. Investors experienced a situation in which intraday volatility rose sharply.
In the afternoon, at around 1 p.m. 31 minutes, a sell-sidecar was activated as KOSPI futures prices plunged 5.21%. The shock quickly spread to the spot market.
In the afternoon stock market, KOSPI stood at 7,305.92, down 350.39 points from the previous day. The intraday decline showed a trend of widening over time.
14 o'clock 18as of the minute mark, the KOSPI 7,261.66 to 394.65points lower, according to another tally. At the same time, the KOSDAQ was 783.38 to 47.85points lower.
The decline deepened as individual investors also switched to selling, in addition to the net selling by foreign investors. Reports commonly noted that the decline was particularly concentrated in semiconductor stocks.
During the session, measures temporarily suspending the effectiveness of program sell orders were triggered several times, temporarily halting some trades. It was reported that the sharp drop intensified in conjunction with the news of a strike on a U.S. military facility that emerged in the afternoon.
The KOSPI and KOSDAQ both maintained steep declines through the close of trading. During the day’s session, increased volatility in derivatives such as futures and options was immediately reflected in the spot market.
Sources: 연합인포맥스
Bullstory synthesized this report from the linked sources. AI may have assisted the writing process. Check the original reports for factual confirmation.