Korean bourse Kospi hits a record intraday high of 8,002 points on May 15. Numbers are shown on a digital board inside Hana Bank in central Seoul. [NEWS1]
A trading curb was triggered on the Kospi on Friday after the benchmark index plunged sharply.
According to the Korea Exchange, program sell orders were suspended for five minutes at 1:28 p.m. due to volatility in the Kospi 200 futures index.
At the time the curb was triggered, the Kospi 200 futures index stood at 1,182.00, down 63.50 points, or 5.09 percent, from the previous session’s close.
It marked the first activation of a sell-side sidecar on the Kospi since April 2. A sell-side sidecar is triggered when the Kospi 200 futures index falls by more than 5 percent, and the decline persists for at least one minute.
The Kospi, which earlier in the day surpassed the 8,000-point mark for the first time, reversed course and was trading in the 7,600 range as of 1:35 p.m., down more than 4 percent.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
댓글
0