KRX issues sell-side sidecar for KOSPI on sharp fall after 8,000-point milestone achievement

Officials work at a dealing room in Hana Bank, Seoul, Friday, as KOSPI surpasses the 8,000 point mark before falling sharply. Yonhap

The country's bourse operator on Friday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the index fell sharply shortly after briefly topping the historic 8,000-point landmark.

Program trading for the KOSPI was suspended for five minutes at around 1:28 p.m. after the KOSPI 200 futures index dropped 5 percent or more for at least one minute, according to the Korea Exchange (KRX).

The KOSPI sharply dropped after it briefly topped the unprecedented 8,000 points earlier in the day as investors moved to take profits.

Source: Korea Times News