On May 11, the KOSPI surged, prompting the activation of a buy sidecar in the securities market. This marked the first activation in three trading days since May 6.
This was the 15th sidecar triggered in the KOSPI market this year, with eight of those being buy sidecars.
According to the Korea Exchange, at 9:29:32 a.m., the KOSPI 200 futures index soared, leading to a five-minute suspension of program buy orders.
At the time of the sidecar activation, the KOSPI 200 futures index was up 58.82 points (5.10%) at 1210.54 compared to the previous day's closing price.
As of 10:10 a.m., Samsung Electronics was trading at 283,000 won, up 14,500 won (5.40%), while SK Hynix surged 17,300 won (10.26%) to 1,859,000 won, both continuing their record-high streaks.
The buy sidecar in the KOSPI market is activated when the KOSPI 200 futures price rises more than 5% above the reference price for over one minute. When activated, the effectiveness of program buy orders is temporarily restricted to mitigate excessive price surges.
Meanwhile, the KOSPI index opened at 7775.31 and surpassed 7800 shortly after the opening, setting an intraday record.
On May 8 (local time), the S&P 500 index rose 0.84%, and the Nasdaq Composite increased by 1.71%, both reaching all-time highs. The Philadelphia Semiconductor Index also rose by 5.51% on the same day.
* This article has been translated by AI.
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