KOSDAQ Triggers Sell Sidecar for the First Time in a Month
As the KOSDAQ index plunged, a sidecar—a temporary suspension of program sell orders—was triggered on April 2 for the first time in about a month.
According to the Korea Exchange, at 2:34:32 p.m. on this day, the effectiveness of program sell orders was suspended for five minutes due to fluctuations in both the KOSDAQ 150 futures price and the spot index.
At the moment the sidecar was triggered, the KOSDAQ 150 futures price had fallen by 116.40 points, or 6.01%, to 1,818.40 compared to the previous day's closing price, while the KOSDAQ 150 spot index dropped by 124.54 points, or 6.44%, to 1,808.31.
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The KOSDAQ sidecar is triggered when the KOSDAQ 150 futures price falls by 6% or more from its reference price and the KOSDAQ 150 index drops by 3% or more compared to the previous trading day's final figure, with both conditions continuing simultaneously for one minute.
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