After the KOSPI topped 8,000 and then turned lower, the decline deepened and a sell-sidecar was triggered.
According to the Korea Exchange (KRX) on the 15th, at 1:28 p.m. the effectiveness of program sell orders was suspended for five minutes due to volatility in the KOSPI 200 futures index. At the time of activation, the KOSPI 200 futures index was 1,182.00, down 63.50 points (5.09%) from the previous close.
It was the first time in about a month since on the 2nd that a KOSPI sell-sidecar was activated. A sell-sidecar is triggered when the KOSPI 200 futures index falls 5% or more and that drop lasts for one minute.
In the stock market this year, buy and sell sidecars have been activated a total of 16 times. That is the most since 2008 (26 times) during the global financial crisis.
Foreign selling has continued for seven trading days in a row. On the day, foreigners were net sellers of more than 4.5 trillion won. Institutions were also net sellers of more than 500 billion won. Individuals alone were net buyers of more than 5 trillion won, absorbing the supply.