KOSPI Soars 5% Early, Buy Sidecar Triggered Again
On June 25, the KOSPI surged sharply in early trading, buoyed by U.S. memory semiconductor company Micron Technology’s record-breaking earnings and a future outlook that exceeded market expectations.
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According to the Korea Exchange, a buy-sidecar (a temporary suspension of program buy orders) was triggered on the KOSPI at 9:07:03 a.m. on the same day. The KOSPI sidecar is activated when the KOSPI 200 futures price rises by 5% or more above the base price and sustains that level for one minute. Program buy orders are then suspended for five minutes. At the time of activation, the KOSPI 200 futures index was at 1,455.56, up 5.81% from the previous day.
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