SEOUL, August 6 (AJU PRESS) - Korean stocks rebounded sharply on Tuesday morning, triggering sidecar orders that temporarily halted program buying.
The KOSPI opened at 2,533.34 on Tuesday, up 91.97 points, or 3.76 percent, from the previous trading day, and continued to rise by over 4 percent in early trading.
On Monday, the KOSPI fell 8.77 percent, the largest single-day drop in 16 years, as fears of a U.S. economic recession hit global markets.
The KOSDAQ index opened at 709.04, up 17.76 points from the previous day.
At 9:06 a.m., sidecars were activated on both exchanges due to surges in futures indexes.
The last time sidecars were activated due to buying pressure on the KOSPI and KOSDAQ markets was on June 16, 2020, and November 6, 2023.
A sidecar order is activated when prices fluctuate 5 percent or more compared to their previous close and remain at that level for over a minute.
On Monday, the curb was issued due to sharp declines in the markets.
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