KOSPI 200 Index futures in South Korea fall 5%, program trading halted for 5 minutes
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Gelonghui, February 2nd|KOSPI 200 index futures in South Korea fell by 5%, triggering a 5-minute halt in program trading. Note: South Korea's "Sidecar" (program trading suspension mechanism) is a stock market stabilization system. When the KOSPI or KOSDAQ index futures price experiences a sharp fluctuation (usually a drop or surge of a certain percentage, such as 5%) compared to the previous trading day's settlement price and lasts for one minute, the exchange will suspend program trading buy (or sell) orders for 5 minutes. The aim is to curb panic selling or blind following caused by program trading, thereby stabilizing the market.
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