On the 10th, a temporary suspension of program buy orders (sidecar) was triggered in the KOSDAQ market.
The Korea Exchange announced that at 10:46 a.m. that day, due to fluctuations in the KOSDAQ150 futures price and the KOSDAQ150 index, the effectiveness of program buy orders was suspended for 5 minutes. At the time of activation, the KOSDAQ150 futures price rose 6.08% from the previous trading day to 1,127.30 points, and the spot KOSDAQ150 index jumped 5.83% to 1,118.98 points.
The KOSDAQ sidecar is triggered when the price of the most actively traded stock among KOSDAQ150 futures trading items fluctuates by 6% or more compared to the previous day’s trading volume, and the corresponding futures target index changes by 3% or more, both conditions persisting simultaneously for 1 minute. The effectiveness of program trading buy (sell) orders is suspended for 5 minutes and then automatically lifted. However, like the KOSPI sidecar, it is applied only once per day and is not triggered during the first 5 minutes after the regular market opens or within 40 minutes before market close.
Earlier that day, at 9:06 a.m., in the KOSPI market, the KOSPI200 futures (nearest month) rose 5.76% from the previous closing price of 304.65 points to 322.20 points and sustained for 1 minute, triggering a buy sidecar. This was the first time in over 8 months since August 6 of last year, when the global stock market rebounded after a sharp plunge (Black Monday).
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