As the KOSPI index plunged on the 5th, the Korea Exchange (KRX) triggered a sell-sidecar (suspension of the effectiveness of program trading sell quotes) on the KOSPI market. This is the second time a sell-sidecar has been triggered since on Apr. 7.

On the morning of the 5th, a KOSPI market board is displayed in the dealing room of Hana Bank in Jung-gu, Seoul. The KOSPI opens down 66.27 points, and the 4,000 level breaks intraday. /Courtesy of News1

The Korea Exchange (KRX) triggered a sell-sidecar on the KOSPI market at 9:46 a.m. that day.

A sidecar is triggered when a 5% drop in the KOSPI 200 futures index from the previous day's closing price persists for one minute.

At 9:46 a.m. that day, the KOSPI 200 futures index fell 5.20% from the previous day's closing price to 552.80.

The KOSPI index was down 4.82% (198.64 points) from the previous trading day at 3,923.10 at that time. The KOSPI index opened at 4,055.47, down 1.61% from the previous trading day, and widened losses early in the session.

This is the second time the exchange has triggered a sell-sidecar since Apr. 7 this year, when the stock market swung sharply on U.S. President Donald Trump's tariff policy. Including both sell and buy, this is the third sidecar triggered this year.

The exchange said that from the time the sell-sidecar was triggered, the effectiveness of program trading sell quotes was suspended for five minutes, and the sidecar was automatically lifted after five minutes. As of 9:46 a.m., the scale of program trading transactions was a net sell of 114.7 billion won.

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