KOSPI Down 10%, KOSDAQ Down 8%... Circuit Breaker Triggered
Following the sharp drop in KOSPI, KOSDAQ also plunged more than 8%, triggering a circuit breaker that halted trading for 20 minutes.
On the 28th, the Seoul headquarters of Hana Bank in Jung-gu features electronic boards in the dealing room displaying the won/dollar exchange rate, KOSPI, and KOSDAQ indices. Photo by Yonhap News Agency
View original imageAccording to the Korea Exchange on July 28, KOSDAQ triggered a circuit breaker at around 12:01 p.m. that day. At the time the circuit breaker was activated, the KOSDAQ index had fallen 61.95 points (8.09%) from the previous trading day, standing at 702.91. This is the first time in about two months that the KOSDAQ circuit breaker has been triggered since June 8, and the third time this year.
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Earlier, at about 9:06 a.m., a sell-sidecar—which is a temporary suspension of program sell orders—was triggered on the KOSPI. At around 9:14 a.m., a sell-sidecar was also activated on the KOSDAQ market. After 10:00 a.m., a circuit breaker was triggered on the KOSPI market, resulting in a 20-minute trading halt.
As of 12:30 p.m., the KOSPI was down 10.25% at 6063.34, while the KOSDAQ was down 8.1% at 702.93.
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