On the 3rd, the KOSPI jumped 5%, triggering a "buy sidecar." It was the 16th buy sidecar on the main board this year.

Market indicators including KOSPI are displayed on an electronic board in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul, on the morning of the 3rd. /Courtesy of News1.

The Korea Exchange (KRX) said it triggered a buy sidecar on the main board at 1:47 p.m.

The main board sidecar is a mechanism that restricts program trading quotes for five minutes if the KOSPI 200 futures price rises or falls 5% or more from the previous closing price for one minute.

At the time the sidecar was triggered, the KOSPI 200 futures index was trading at 1,292.54 points, up 5.1% from the previous session. Program trading volume at the time was 183.6 billion won.

This year, buy sidecars on the main board have been triggered 31 times. That exceeds the 26 triggers during the 2008 global financial crisis.

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