The KOSPI, KOSDAQ indexes and the dollar-won exchange rate are displayed on an electronic board at the Hana Bank dealing room in Jung-gu, Seoul, on the morning of the 20th after the market opens. /Courtesy of News1

The KOSPI index surged by about 4.8% early on the 20th, prompting the Korea Exchange (KRX) to trigger a buy sidecar.

The Korea Exchange (KRX) said a buy sidecar was triggered on the stock market at about 9:57 a.m. It is the 49th sidecar this year. So far this year, there have been 25 sell sidecars and 24 buy sidecars on the stock market.

At the time of activation, the KOSPI 200 futures index was at 1,068.15, up 51.90 points (5.10%) from the previous close of 1,016.25 points.

A KOSPI buy sidecar is triggered when the KOSPI 200 futures price rises 5% or more above the reference price and stays there for one minute.

The KOSPI index is rising on the back of strength in semiconductor stocks. As of 10:22 a.m., Samsung Electronics(005930) is up 7.07%, and SK hynix(000660) is up 10.60%. The KOSPI index is at 6,806.03, up 5.17% (334.86) from the previous day.

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