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Korea Exchange Halts Kospi, Kosdaq Trading for Five Minutes After Strong Sell-Off

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The Korea Exchange activated a five-minute sell-side sidecar on the country's primary and secondary stock market on Monday morning as concerns rose over the semiconductor sector, and investor sentiment was dragged down by fears of further interest rate hikes after the better-than-expected May U.S. jobs report.

The Korea Exchange announced the order at 9:34 am after the KOSPI200 Futures shed 81.30 points, or 6.3%, to trade at 1,216.85.

The five-minute sell-side sidecar on Kosdaq was activated after the KOSDAQ150 Futures shed 140.60 points, or 7.95%, to trade at 1,625.90.

A sell-side sidecar is activated when the KOSPI200 Futures index or the KOSDAQ150 futures decline 5% or more for at least one minute.

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