Business · Markets · 1 hr ago
KOSPI jumps more than 4%, triggering a five-minute buying halt
South Korea’s KOSPI rose more than 4% on the morning of Oct.
27.
The rise came as investor sentiment toward semiconductor shares recovered.
The Korea Exchange triggered a buying sidecar after KOSPI 200 futures climbed more than 5% and stayed there for one minute.
The safeguard paused program buy orders for five minutes, rather than stopping all trading.
Samsung Electronics shares were up 5%, while SK Hynix gained more than 7.5% at 10:20 a.m.
The KOSDAQ also rose, gaining 4.15% at that time.
The five-minute pause was the first since four trading days earlier.
South Korea’s KOSPI rose more than 4% on Oct. 27, triggering a five-minute halt on program buy orders.
The halt began at about 10:13:53 a.m. local time, according to the Korea Exchange.
At the time, the KOSPI 200 futures index was up 5.05% at 893.02.
Yonhap attributed the market’s rebound to recovering investor sentiment toward semiconductor stocks.
At 10:20 a.m., the KOSPI was up 4.25% and the KOSDAQ was up 4.15%.
- Who
- The Korea Exchange reported the halt in program buy orders.
- What
- A five-minute buying sidecar was triggered after the KOSPI 200 futures index rose above the threshold.
- When
- Oct. 27, at about 10:13:53 a.m. local time.
- Where
- South Korea’s KOSPI market.
- Why
- The KOSPI 200 futures index rose more than 5% and stayed above that level for one minute. Yonhap linked the rally to recovering sentiment toward semiconductor stocks.
This story does not have two clearly opposing sides.
The KOSPI was up 3.62% at 5,667.58.
The Korea Exchange halted program buy orders for five minutes after the KOSPI 200 futures index rose 5.05%.
The KOSPI was up 4.25% at 5,701.96, while the KOSDAQ was up 4.15%.
- Halt duration
- 5 minutes
- Trigger time
- About 10:13:53 a.m. on Oct. 27
- KOSPI 200 futures at trigger
- 893.02, up 5.05%
- KOSPI at 10:20 a.m.
- 5,701.96, up 4.25%
- KOSDAQ at 10:20 a.m.
- 757.36, up 4.15%