A screen in the dealing room at Hana Bank in Jung-gu, Seoul displays the KOSPI index and other market figures on the morning of the 23rd. /Courtesy of News1

On the 23rd, the KOSDAQ index surged, triggering a temporary halt to program buy orders (buy sidecar). This is the 14th time a buy sidecar has been triggered on the KOSDAQ market this year.

Korea Exchange (KRX) said at 2:27 p.m. that, due to movements in the KOSDAQ 150 futures price and the KOSDAQ 150 index, the effectiveness of program buy orders was halted for five minutes.

A KOSDAQ buy sidecar is triggered when the KOSDAQ 150 futures index rises 6% or more and the KOSDAQ 150 cash index rises 3% or more from the previous session's close and the condition is maintained for one minute.

At the time of activation, KOSDAQ 150 futures were up 79.50 points (6.29%) from the previous close, and the KOSDAQ 150 index had risen 66.78 points (5.27%).

As of 2:38 p.m., the KOSDAQ index was trading at 785.54 points, up 34.35 points (4.59%).

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