KOSPI Sell Sidecar Triggered as Sharp Drop Follows Downturn

The KOSPI turned lower during trading on the 15th and fell sharply, leading the Korea Exchange to trigger a temporary suspension of program sell quotations, commonly called a sell sidecar. According to the Korea Exchange, the sell sidecar took effect at 1:28:49 p.m. The original report said the index had touched 8,000 points but then dropped rapidly toward the 7,600 level. A sell sidecar is a measure that temporarily halts the effect of program sell orders. This was the first such activation in about a month. The move highlighted a session in which a steep decline and program selling pressure increased short-term market volatility. This report cites mk.co.kr.