Joint Response Team Searches Alpha AI; Sidecars Triggered as KOSPI and KOSDAQ Surge Together
7 month 10 day, the Joint Response Team searched the KOSDAQ-listed company Alpha AI over alleged false disclosures and stock-price manipulation, while Alpha AI is suspected of having obtained approximately 200 hundred million won in illicit gains. On the same day, the KOSPI closed at 2.52% higher at 7,475.94, while the KOSDAQ closed at 5.47% higher at 837.43, and buy-sidecars were triggered in both markets.
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7 month 10 day, the Joint Response Team conducted a search and seizure targeting the KOSDAQ-listed company Alpha AI on allegations of false disclosures and stock-price manipulation. Prosecutors said they had identified circumstances suggesting that Alpha AI obtained approximately 200 hundred million won in illicit gains.
The Joint Response Team said it would secure relevant documents and computer records through the search and seizure that day, then review the scope of the allegations to be applied. The company's official position was not included in the article.
The stock market closed sharply higher on the same day. The KOSPI recorded a session 2.52% higher.
The KOSPI closed7,475.94at the close. The index ended trading184.03points higher.
The KOSDAQ5.47% higher, closing837.43at the end of the session. The KOSDAQ index was43.43points higher on the day.
It was reported that buy-sidecars were triggered in both markets during trading. The triggering of a buy-sidecar is a system that temporarily restricts all buy orders during the relevant period.
The search and seizure and the sharp rise in the indices were reported as facts that occurred on the same day, and the report was organized mainly around dates and figures.