KOSPI and KOSDAQ plunge together; sidecars and circuit breakers triggered
8Sell-sidecars and circuit breakers were triggered simultaneously on the KOSPI and KOSDAQ, causing a sharp intraday drop. KOSDAQ fell to 785.00to 800below the line, while KOSPI rebounded temporarily after a steep decline amid foreign selling.
8Sell-sidecars and circuit breakers were triggered simultaneously on the KOSPI and KOSDAQ, restricting order execution. This immediately affected the trading flow of investors.
KOSPI was pushed sharply lower intraday as foreign selling intensified, and at one point a decline of 8% triggered a circuit breaker. The market subsequently showed signs of a rebound as some trading resumed.
KOSDAQ fell 46.23points, down 5.56%, and closed at 785.00. The index fell below the 800line intraday, dropping below the 10-month 800line for the first time.
During the session, some KOSDAQ-listed stocks saw 3% declines. Many stocks experienced expanded trading volume and bid-ask spreads.
Large-cap stocks showed mixed movements. SK Hynix rose by 4% during the session, while the KOSPI temporarily attempted to recover 7,700.
The exchange’s trading restriction measures caused delays in quotations and executions, and some investors continued to cancel and amend orders.
No related disclosures or announcements of additional sanctions had been confirmed by the market close. Even on the next trading day, supply-demand conditions and quotations are highly likely to determine volatility.