On the 20th, after the KOSDAQ index plunged 5%, a sell-sidecar (temporary suspension of program sell orders) was triggered.

On the morning of the 20th, the Hana Bank dealing room board in Jung-gu, Seoul shows the KOSPI at 6,523.54, down 297.06 points (4.36%) from the previous session as the index opens sharply lower./Courtesy of News1.

Korea Exchange (KRX) said it triggered a sell-sidecar at 10:52 a.m., compared with the previous day. As of the day, the KOSDAQ market has seen 10 sell-sidecar and 13 buy-sidecar activations.

A sell-sidecar is a market stabilization mechanism that is triggered when KOSDAQ150 futures fall 6% or more and the KOSDAQ150 index drops 3%, and the condition persists for one minute.

At the time of activation, the KOSDAQ150 futures index was trading at 1,285.4 points, down 6.16% from the previous session, and the KOSDAQ150 index was at 1,280.63 points, down 6.15%. The scale of program trading transactions was a net sell of 154.8 billion won.

The KOSDAQ index is deepening its intraday losses. As of 11:20 a.m., the KOSDAQ index is trading at 751.04, down 40.8 (5.15) from the previous session. Foreign investors and institutions are net sellers of 143.2 billion won and 33.4 billion won, respectively.

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