KOSDAQ 9.08% plunge triggers a circuit breaker 20minutes after activation
8The KOSDAQ fell 9.08% to close at 911.39; a sell-sidecar and a circuit breaker were triggered in succession during the session, halting trading for 20 minutes. This is the fourth sell-sidecar activation of the year.
8The KOSDAQ index fell 9.08% to close at 911.39The figures are based on the market close. Selling pressure continued throughout the session.
At the start of the session, trading began at 959.61 with the index down 4.27%. The opening price is the figure recorded immediately after the market opened. Selling pressure concentrated immediately after the open, widening the decline.
A sell-sidecar was activated as the index plunged. This is the fourth activation of the year. A sell-sidecar is a system that temporarily restricts buy orders when large-scale simultaneous selling occurs.
The circuit breaker also operated, 20minutes, and trading was halted. Under the rules, an automatic halt lasting 20minutes was applied. Trading resumed after the halt.
During the trading halt, the execution of orders for some securities was delayed. Price volatility remained high across individual securities immediately after trading resumed. The exchange said it monitored the situation during the session.
The Korea Exchange said it implemented the halt and resumption measures in accordance with the relevant regulations. Intraday automatic halts are a procedure for managing sharp price fluctuations. Further announcements may follow.