KOSPI-sidecar

SEOUL, Oct. 15 (Yonhap) -- South Korea's bourse operator on Thursday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index dropped.

Program trading for the KOSPI-listed shares was suspended for five minutes at 9:08 a.m, according to the Korea Exchange (KRX).

After opening 5.59 percent lower, the KOSPI lost 303.39 points, or 5.05 percent, to 5,705.42 as of 9:11 a.m.

Investors sold off semiconductor shares, including Samsung Electronics and SK hynix, as persisting skepticism over artificial intelligence (AI)-trade continued, amid renewed concerns over the pace of inflation in the United States.

A sell-side sidecar is triggered when the KOSPI 200 Futures Index falls 5 percent or more for at least one minute.

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