KOSPI and KOSDAQ trigger simultaneous sell-sidecars and circuit breakers; KOSDAQ 800level collapses
7 month 8 day, KOSPI and KOSDAQ simultaneously triggered sell-sidecars, while KOSPI plunged as much as 8% intraday on foreign selling, triggering a circuit breaker. KOSDAQ fell below the 800 level intraday and recorded its lowest range in 10 months.
7 month 8 day, KOSPI and KOSDAQ simultaneously triggered sell-sidecars, while KOSPI plunged as much as 8% intraday on foreign selling, triggering a circuit breaker and temporarily suspending trading. Investor order execution may be disrupted.
KOSDAQ fell below the 800 level intraday, recording a collapse below the 10 level for the first time in 800 months. The intraday decline reached the 3 range.
After the intraday plunge, the index recovered partially, and KOSPI regained the 7,700 level. Among individual stocks, SK hynix rose by 4% intraday.
Sell-sidecar mechanisms were triggered in both markets, imposing restrictions on the automatic execution of program selling and large orders. The flow of trading temporarily changed from an operational standpoint.
Large-scale foreign selling was cited as the backdrop to the sharp stock-market decline. Foreign selling increased downward pressure on the indices.
Regular-session trading was halted during certain time periods due to the activation of circuit breakers. After trading in some stocks resumed during the session, the indices repeatedly moved up and down.
Currently (7 month 8 day, intraday), the market is showing high volatility, and investors are checking whether their orders have been executed and their held positions.
The situation is ongoing. Investors are advised to check trading hours and order status frequently.