KOSPI-sidecar

KRX issues buy-side sidecar for KOSPI on sharp rise

SEOUL, June 25 (Yonhap) -- South Korea's bourse operator on Thursday activated a buy-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the index spiked sharply, driven by a tech rally.

Program trading for the KOSPI-listed shares was suspended for five minutes shortly after the market opened, according to the Korea Exchange (KRX).

The KOSPI rose 431.95 points, or 5.1 percent, to 8,902.97 as of 9:09 a.m.

The KOSPI sharply gained ground as investors scooped up semiconductor shares on U.S. chipmaker Micron Technology's better-than-anticipated quarterly earnings.

A buy-side sidecar is triggered when the KOSPI 200 Futures index increases 5 percent or more for at least one minute.

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