KOSPI plunges amid escalating U.S.-Iran conflict 4.58% as sidecar is triggered
Following news of escalating military clashes between the United States and Iran, KOSPI fell 7 month 8 afternoon to 4.58%, recording 7,305.92, while a sell-sidecar was triggered as futures plunged. KOSDAQ fell 5.48% to 785.68.
Following news of escalating military clashes between the United States and Iran, KOSPI fell 7 month 8 afternoon by 4.58%, recording 7,305.92. The shock appears to have been immediately reflected across the stock market.
In the KOSPI market, the index is trading 350.39 points below the previous day's close. A session of steep intraday losses has continued.
The KOSDAQ index fell to 785.68. The decline was 45.55 points, with a loss of 5.48%.
At 1 hours 31minutes, news emerged that a U.S. military facility had been attacked, and selling pressure grew sharply. Immediately afterward, the market shock intensified.
After futures prices plunged 5.21%, a sell-sidecar was activated in response to program selling during the session. The activation temporarily suspended the validity of some program-selling quotes.
A sell-sidecar is a system that temporarily suspends the validity of program-selling quotes to control sharp sell orders during the session. The activation that day was intended to reduce intraday volatility.
During the session, sell orders became concentrated, causing execution delays and order reallocations in some securities. The exchange announced the activation of the sell-sidecar.
This information summarizes the intraday situation on 7 month 8 day in the afternoon. Please check for additional disclosures or exchange announcements.
Sources: 연합인포맥스
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