KOSPI plunges intraday immediately after Samsung Electronics' preliminary earnings8% and circuit breaker triggered
7 day, the KOSPI fell more than 8% intraday, triggering a Level 1 circuit breaker in the KOSPI market and suspending trading in all stocks for 20 minutes. A sell-sidecar was also triggered that morning, putting market safety mechanisms into operation twice in one day.
7 day, the KOSPI plunged more than 8% intraday, triggering a Level 1 circuit breaker in the KOSPI market and suspending trading in all stocks for 20 minutes. This was the sixth circuit-breaker activation of the year.
That morning, at 10:23 the KOSPI200 futures fell more than 5% from the reference price, triggering a sell-sidecar. This brought the number of sell-sidecar activations in the KOSPI market this year to 32.
The index plunged immediately after Samsung Electronics announced its preliminary earnings. The KOSPI started the same day at 7,919.20 before falling to an intraday low of 7,389.22.
Based on closing prices, 7the KOSPI on 4.91% lower at 7,656.31the KOSDAQ finished the session 1.87% lower at 831.23.
In terms of investor flows, foreign investors were net sellers in the stock market, selling 2trillion won, 9,298while institutions were also net sellers, selling 3,092hundred million won. By contrast, individual investors were net buyers, purchasing 3trillion won, 1,343.
As market stabilization measures were activated twice consecutively on the same day, a series of operational measures followed, including trading halts and the suspension of program sell orders. The execution of investor orders and the management of positions were temporarily restricted.
On the following day, 8intraday volatility continued. On 8at 1, 7the KOSPI was trading at 7,438.97while the KOSDAQ fell below the intraday 800line.
Under the Korea Exchange's market operating rules, the activation criteria for circuit breakers and sidecars were applied. The number of activations that day was unusually high for this year.
Sources: 파이낸셜뉴스 증권
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