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S. Korea’s Stocks Rally at Monday Opening
(MENAFN) South Korea's main bourse operator triggered an emergency trading brake Monday morning as a powerful surge in semiconductor stocks sent the country's benchmark index soaring within minutes of the opening bell.
The Korea Exchange (KRX) confirmed it had suspended buy-side program trading in Korea Composite Stock Price Index (KOSPI) 200 futures for a five-minute window at approximately 9:29 a.m. local time — a mechanism reserved for moments of unusually sharp market movement.
The KOSPI opened the session at 7,775.31, a jump of 277.31 points — or 3.7 percent — above the prior session's close, before pushing further into record territory and breaching the 7,800-point threshold.
The halt was triggered under standing KRX market rules, which mandate the activation of a buy-side sidecar mechanism whenever the KOSPI 200 Futures index climbs 5 percent or higher and sustains that level for a minimum of one minute — a threshold designed to cool automated trading during explosive rallies.
The surge was led by major semiconductor stocks, whose outsized weighting on the index amplified Monday's broad-based advance into a historic single-session leap.
The Korea Exchange (KRX) confirmed it had suspended buy-side program trading in Korea Composite Stock Price Index (KOSPI) 200 futures for a five-minute window at approximately 9:29 a.m. local time — a mechanism reserved for moments of unusually sharp market movement.
The KOSPI opened the session at 7,775.31, a jump of 277.31 points — or 3.7 percent — above the prior session's close, before pushing further into record territory and breaching the 7,800-point threshold.
The halt was triggered under standing KRX market rules, which mandate the activation of a buy-side sidecar mechanism whenever the KOSPI 200 Futures index climbs 5 percent or higher and sustains that level for a minimum of one minute — a threshold designed to cool automated trading during explosive rallies.
The surge was led by major semiconductor stocks, whose outsized weighting on the index amplified Monday's broad-based advance into a historic single-session leap.
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