On the 1st, a temporary halt of program buy orders (buy sidecar) was triggered on the KOSPI market. Overnight, Iran said it was willing to stop the war if there were no attacks from the United States and Israel, boosting hopes for an end to the war, and both the KOSPI and KOSDAQ indexes are stronger.
The Korea Exchange (KRX) said at 9:07 a.m. that a buy sidecar was triggered on the domestic stock market.
This is the fifth buy sidecar this year, and the 11th when combined with sell sidecars. At the time, the scale of program trading was tallied as a net buy of 91.7 billion won.
A buy sidecar is a measure that halts program trading for five minutes when the KOSPI 200 futures price rises 5% or more from the reference price and that condition persists for over one minute.
The KOSPI index opened at 5,330.04, up 5.49% from the previous trading day. As of 9:24 a.m., shares of Samsung Electronics and SK hynix, Korea's leading semiconductor stocks, are showing gains in the 6% range, with most large-cap stocks rising. The KOSDAQ index is also up more than 4%.
On the 31st (local time), U.S. President Donald Trump repeatedly said that cease-fire talks with Iran were going well, and Iran's president also said the country was ready to end the war if there were no additional attacks. As a result, major indexes on the New York stock market rebounded sharply, and that momentum is carrying over to the domestic market today.