Kospi 7,475.94closed, Samsung Electronics 7% surge triggers repeated buy sidecars
7On the 10th, the Kospi closed at 184.03 points (2.52%) higher at 7,475.94. During the session, buy sidecars were triggered several times in the Kospi and Kosdaq, and Samsung Electronics shares surged by 7%.
7On the 10th, the Kospi closed at 184.03 points (2.52%) higher at 7,475.94. Buy sidecars were triggered several times during the day’s rise in the index.
Intraday, the Kospi at one point rose as much as 5%, and the Kosdaq as much as 6%. During this surge, the exchange triggered buy sidecars repeatedly.
The activation of buy sidecars restricted the effectiveness of buy orders during some time periods. The same measure was also applied on the Kosdaq, temporarily affecting trading in some stocks.
Samsung Electronics’ share price rose intraday 7%, leading the index higher. It was also confirmed that semiconductor-related stocks moved higher together.
Some reports said that buying pressure weakened just before the close, reducing the gains. During the session, a buy-side sidecar was triggered and a concentration in large-cap stocks was observed at the same time.
One report suggested that if the market rebounds, the KOSPI could reach 1 million1,000 points. The report also mentioned both the risks and opportunities in the short-term surge phase.
Reports said that because sidecars were triggered several times during trading hours, order matching conditions kept changing from moment to moment. Investors were told to check intraday execution records and disclosures.