[Infostock Daily= Reporter Park Hyo-sun] The KOSPI plunged more than 5% in the market on December 12, and the selling sidecar was activated.
The Korea Exchange said it will suspend the sale of the program in the KOSPI market for five minutes due to a drop in futures prices at 1:04:37 pm.
The KOSPI fell 13.00 points (▼5.06%) on the day and lasted for a minute.
The sale sidecar was launched in the KOSPI market only about 8 years and 5 months after October 4, 2011 (9:06 am), the time of the European fiscal crisis.
The KOSPI market sidecar will be activated if the price of the stocks with the highest trading day of the KOSPI 200 futures trading stocks rises by more than 5% or falls for one minute. It is automatically canceled if 5 minutes passes from the starting time point.
Sidecar is a system to minimize the impact on the market by temporarily limiting the price of program sales when the market situation changes rapidly. It was introduced on November 25, 1996 in the domestic securities market.
The KOSPI index is pointing to 1,841.59, down 69.75 points (▼3.55%) from the previous trading day at 2:25 pm after the side car was launched.
Reporter Park Hyo-sun hs1351@infostock.co.kr