[Featured Stock] STX Greenlogis Turns Downward After Circuit Breaker

Despite a large-scale market downturn, STX Greenlogis, whose stock price had surged over 8%, turned to a decline after trading resumed following the activation of the KOSPI circuit breaker.

As of 3:11 PM on the 5th in the KOSPI market, STX Greenlogis was trading at 13,570 KRW, down 730 KRW (5.10%) from the previous trading day.

On that day, STX Greenlogis's stock price had risen as much as 8.67% intraday to 15,540 KRW. This was due to expectations of an imminent retaliatory attack by Iran on Israel, which raised concerns about instability in the Middle East and was expected to benefit global maritime freight rates. This was a strong performance amid the simultaneous plunge of over 8% in both the KOSPI and KOSDAQ indices.

However, from 2:14:30 PM, the KOSPI market trading was temporarily halted for 20 minutes due to the activation of the circuit breaker. This was triggered because the index had fallen more than 8% compared to the previous day's closing price for one continuous minute, meeting the activation criteria. After trading resumed, STX Greenlogis's stock price could not withstand the market trend and turned downward.

Dealers are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul, on the 5th, as the KOSPI and KOSDAQ indices plunged more than 8%, triggering circuit breakers (CB) in both markets. It is the first time in 4 years and 5 months since March 13, 2020, when the circuit breakers were simultaneously triggered in both the KOSPI and KOSDAQ markets during the outbreak of the novel coronavirus disease (COVID-19). Photo by Kang Jin-hyung aymsdream@