KOSPI closes amid buying-side sidecar…Samsung Electronics 7,475.94 surges 7%
The KOSPI7month 10day amid activation of a buying-side sidecar, 184.03points (2.52%) higher at 7,475.94, and a sidecar also followed on the KOSDAQ. Samsung Electronics surged 7% intraday. One report forecast that, if it rebounds, the KOSPI could reach as much as 1ten thousand 1000.
The KOSPI7month 10day amid activation of a buying-side sidecar, 184.03points (2.52%) higher at 7,475.94, and ended the session at . A buying-side sidecar is a system that restricts new buy orders for a certain period of time.
During the session, Samsung Electronics rose 7%, helping drive the index higher. As the broader semiconductor sector showed strength, gains centered on large-cap stocks emerged.
During trading, the KOSPI at one point surged 5%, while the KOSDAQ recorded a 6% jump, triggering buying-side sidecars one after another. The same system also applied to the KOSDAQ.
Toward the end of the session, buying interest also weakened somewhat, and the pace of the gains slowed. Some reports said buying power faded in the final stretch.
The next day (7month 11day), a report was said to have forecast that, on a rebound, the KOSPI could rise to 1won1000. Market warnings continued about a momentary sharp spike.
Due to the event that day, new buy orders were restricted during a certain time period, affecting the order execution method. Market participants checked exchange notices and changes in the order book.