On the 12th, as the KOSPI index surged, a buy sidecar that temporarily suspends the validity of program buy quotes was triggered. It was the 47th activation this year (24 sell sidecars and 23 buy sidecars).

According to the Korea Exchange (KRX), at 11:57 a.m. that day on the stock market, the validity of program buy quotes was suspended for five minutes due to fluctuations in the KOSPI 200 futures index. At the time of activation, the KOSPI 200 futures index was 1,037.76, up 50.68 points (5.13%) from the previous day.

A KOSPI buy sidecar is triggered when the KOSPI 200 futures price rises 5% or more from the reference price and the move lasts for one minute.

The dealing room at Hana Bank's headquarters in Jung-gu, Seoul, on the morning of the 12th. The KOSPI, which opens higher today, surges as intraday gains widen./Courtesy of News1

The KOSPI index, which opened higher, widened its intraday gains and topped the 6,600 level. As of 12:40 p.m., the KOSPI index was moving in the 6,630 range, surging more than 4.5% from the previous trading day. Samsung Electronics and SK hynix each jumped more than 7%, leading the index higher.

On expectations that the two companies will soon announce large-scale shareholder return policies, investment funds are flowing into semiconductor stocks. Samsung Electronics(005930) topped 258,000 won, and SK hynix surpassed 1.53 million won.

The KOSDAQ index, which opened lower, has been oscillating around flat. It trimmed early losses but is staying around the 850 level.

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