After a sell-sidecar (temporary suspension of program sell quotes) was triggered on the main board, a sell-sidecar was also triggered on the KOSDAQ market on the morning of the 16th.

A market display board at the Hana Bank dealing room in Jung-gu, Seoul shows KOSPI and other market indicators on the 16th. The KOSPI opens at 6,960.50, down 323.91 points (4.45%) from the previous day's close. /Courtesy of News1

According to the Korea Exchange (KRX), a sell-sidecar was triggered on the KOSDAQ market at 10:20 a.m. that day. When a sell-sidecar is triggered, program-trading quotes are restricted for five minutes.

This year, sell-sidecars triggered on the KOSDAQ market total nine. Buy-sidecars have been triggered 13 times.

At the time of the trigger, the KOSDAQ150 futures price was 1,368.60, down 6.07% from the previous closing price, and the KOSDAQ150 cash index was 1,362.81, down 5.52%. The scale of program-trading transactions was 179.5 billion won.

A KOSDAQ sell-sidecar is triggered when the KOSDAQ150 futures price falls 6% or more from the reference price and the KOSDAQ150 index falls 3% or more from the previous trading day's final reading, and both conditions persist simultaneously for one minute.

Earlier, at 9:10 a.m. that day, a sell-sidecar was triggered on the main board.

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