On the 23rd, the KOSPI index plunged more than 4%, triggering a sell-sidecar (temporary suspension of program sell orders). It was the first sell-sidecar on the Korea Exchange's main board in 10 trading days.

As the KOSPI plunges in early trading and a sell-sidecar is triggered on the morning of the 23rd, a billboard in the dealing room at Hana Bank in Jung District, Seoul displays market indicators. /Courtesy of News1

The Korea Exchange (KRX) said the sell-sidecar on the main board was triggered at 9:18:23 a.m. It is the first sell-sidecar on the main board in 10 trading days since on the 9th. It is also the sixth sell-sidecar on the main board this year.

A sell-sidecar is triggered when the KOSPI 200 futures index falls 5% or more from the previous trading day and stays there for one minute.

At 9:18:23 a.m., the KOSPI 200 futures index was 818.45 points, down 5.11% from the previous closing price.

Meanwhile, as of 9:46 a.m., the KOSPI index also lost the 5,500 mark. The KOSPI index was down 5.42% (312.31 points) at 5,467.89.

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