A market board in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul, shows KOSPI, KOSDAQ, and the dollar-won exchange rate after the opening on the morning of the 6th. /Courtesy of News1

A sharp intraday plunge of more than 4% hit the main board on the 6th, triggering a temporary halt of program sell quotes (sidecar).

Korea Exchange (KRX) said it temporarily suspended the effectiveness of program sell quotes on the main board for five minutes at 10:18:12 a.m. that day due to volatility in the KOSPI 200 futures index.

At the moment the sidecar was triggered, the KOSPI 200 futures index stood at 987.24, down 52.48 points (5.04%) from the previous session's closing price.

A sell-side sidecar on the main board is triggered when the KOSPI 200 futures index falls 5% or more and the drop persists for one minute.

At the same time, the KOSPI index fell 4.60% to 6,294.47, and the KOSDAQ index slipped 1.81% to 785.08. The declines in the KOSPI and KOSDAQ indexes then steepened to around 4%–5% and around 2%, respectively.

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