Business · Markets · 1 hr ago
KOSPI triggers five-minute trading halt as losses exceed 4%
South Korea’s KOSPI stock index fell by more than 4% early on Oct.
13.
The plunge triggered a market rule that paused program sell orders for five minutes.
The halt was based on a sharp fall in KOSPI 200 futures.
The index had already been falling for five straight trading days.
The decline came after an attack on Riyadh International Airport in Saudi Arabia increased geopolitical tensions.
International oil prices rose for a third consecutive trading day.
The report does not say what happened to the index after the halt.
The Korea Exchange suspended program sell orders in the KOSPI market for five minutes on Oct. 13 after the market fell more than 4%.
The halt began at 9:47:58 a.m., according to the Korea Exchange.
At that time, the KOSPI 200 futures index was down 51.20 points, or 5.08%, from the previous close, at 955.02.
The KOSPI had opened the day lower and was down 2.91% at 9:01 a.m.
Yonhap reported that rising geopolitical tensions after an attack on Riyadh International Airport in Saudi Arabia had pushed international oil prices higher.
- Who
- The Korea Exchange suspended program sell orders in the KOSPI market.
- What
- It imposed a five-minute trading halt after losses exceeded 4%.
- When
- Oct. 13, at 9:47:58 a.m.
- Where
- South Korea’s securities market.
- Why
- The KOSPI 200 futures index fell sharply, triggering the suspension.
This story does not have two clearly opposing sides.
The KOSPI was down 185.78 points, or 2.91%, at 6,198.46.
The KOSPI’s loss widened to more than 4%.
The Korea Exchange suspended program sell orders for five minutes.
- Halt duration
- 5 minutes
- Halt began
- 9:47:58 a.m. on Oct. 13
- KOSPI 200 futures
- 955.02, down 51.20 points or 5.08%
- KOSPI at 9:01 a.m.
- 6,198.46, down 185.78 points or 2.91%
- Reported context
- Attack on Riyadh International Airport and rising geopolitical tensions
Sources
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