The KOSDAQ index surged more than 4% on the 29th, triggering a temporary suspension of program buy quotes (buy sidecar).

On the morning of the 29th, a buy-sidecar is triggered on KOSDAQ, and the KOSDAQ index jumps more than 6% on the electronic board in the Hana Bank dealing room in Jung-gu, Seoul. /Courtesy of News1

Korea Exchange (KRX) disclosed that it triggered a buy sidecar on the KOSDAQ market at 9:28 a.m. that day. It was the 16th sidecar this year. This year, buy sidecars were triggered 11 times, and sell sidecars 5 times.

The exchange said a buy sidecar was triggered because the KOSDAQ 150 futures index rose more than 6% from the previous trading day and the KOSDAQ 150 index rose more than 3%, with both gains sustained for one minute.

At the time the sidecar was triggered, the KOSDAQ 150 futures index was at 1,650.50 points, up 6.18% from the previous trading day's close of 1,554.30 points, and the KOSDAQ 150 index was at 1,636.63 points, up 6.22% from the previous trading day's close of 1,540.77 points. The size of program trading was 22.2 billion won at that time.

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