KRX launches sell-side sidecar as KOSPI plunges amid tech sell-off
The Korea Exchange activated its sell-side sidecar after the KOSPI fell sharply, prompting a brief suspension of program trading.
At 9:48 a.m., the Korea Exchange halted program trading for KOSPI-listed stocks for five minutes. The index opened down about 3.1% and quickly lost 257.09 points. A sell-side sidecar was triggered when the KOSPI 200 Futures Index dropped at least 5% for a minute. The decline was driven by selling in semiconductor stocks such as Samsung Electronics and SK hynix, pressured by weak U.S. tech shares ahead of earnings and inflation data releases.
Why it matters
The move shows how South Korea's market infrastructure steps in to curb extreme volatility in its key stock index.
How this story developed
- Oct 5 Samsung poised to break 100 trillion won profit mark on memory chip surge
- Oct 8 Samsung disclosed a third‑quarter operating profit of 107.4 trillion won.
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