KOSPI 8% plunge triggers circuit breakers; KOSDAQ also sees a sell-sidecar
8The KOSPI plunged by more than % immediately after the opening, triggering a circuit breaker, while the KOSDAQ fell by more than %, triggering a sell-sidecar. The KOSPI temporarily fell to the 8 level before partially recovering to the 5 level after the sidecar was activated.7,470The KOSPI temporarily fell to the 7,770 level before partially recovering to the
8The KOSPI plunged by more than % immediately after the opening, triggering a circuit breaker.8This was the third circuit-breaker activation this year. Trading was temporarily suspended, restricting investors’ transactions.
During the plunge, the index temporarily fell to the 7,470 level. Some trading restrictions were imposed as a sell-sidecar was activated. A sidecar is a mechanism designed to respond to downward pressure in the market.
After the sidecar was activated, the KOSPI recovered to the 7,770 level. After the recovery, the decline in the early trading session narrowed to around %. Index volatility remained significantly elevated during the session.4Index volatility remained significantly elevated during the session.
KOSDAQ 5% range decline, triggering a sell-sidecar. This is the fourth time this year that a sidecar has been triggered on KOSDAQ. KOSDAQ opened at the start of the session 959.61 and began trading 42.83 points lower.
In another tally, KOSPI opened at the start of the session 8,048.09 and was recorded as having fallen 112.50 points. It was also reported that an intraday circuit breaker and a sidecar were triggered sequentially. The market is currently forming prices under limited trading conditions.