KOSPI-sidecar

KRX issues sell-side sidecar for KOSPI on sharp fall

SEOUL, July 8 (Yonhap) -- South Korea's bourse operator on Wednesday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) after the index tumbled sharply.

Program trading for the KOSPI was suspended for five minutes at around 1:31 p.m., according to the Korea Exchange (KRX).

The KOSPI came under heavy selling pressure as investors offloaded technology and other large-cap stocks as they reassess the next phase of artificial intelligence (AI) trade.

Foreigners and individuals sold a combined 784 billion won (US$519 million) worth of stocks as of 1:40 p.m., exceeding institutional buying worth 767.9 billion won.

After opening 2.7 percent lower, the KOSPI fell as low as 7,222.60 during the session.

(END)

[ⓒ K-VIBE. 무단전재-재배포 금지]