South Korea Triggers Sidecar Trading Halt as KOSPI Plunges Over 7 Percent
· Business · Economic Times, The Korea Times
South Korea's bourse operator triggered an automatic sell-side sidecar trading halt after the benchmark KOSPI index plunged more than 5%. The five-minute suspension on program sell orders was enacted as the KOSPI headed for its seventh straight session of losses, its longest losing streak since September 2024. The benchmark index dropped 450.02 points, or 7.49%, to 5,558.79. Major technology stocks led the decline, with Samsung Electronics falling 9.05% and SK Hynix losing 11.06%. Foreign investors were net sellers of shares worth 355.6 billion won, while analysts noted the market is struggling to find new buyers following the exhaustion of recent buybacks.
Why it matters
Sharp market sell-offs in major Asian tech hubs reflect broader investor anxiety over sticky US inflation and potential global monetary tightening.
Read the original report — Economic Times
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