KRX issues sell-side sidecar for KOSPI on sharp fall

The country's bourse operator on Monday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) for a second consecutive session as the index nosedived. Program trading for the KOSPI was suspended for five minutes at around 9:19 a.m., according to the Korea Exchange (KRX). The KOSPI fell sharply as investors tracked declines on Wall Street last week amid rising woes over inflation caused by the deadlocked situation in the Middle East. Opening at 0.67 percent lower, the KOSPI fell as low as 7,142.71 at one point, or more than 5 percent. Tech stocks and other major market heavyweights suffered sharp declines as investors cashed out following record-breaking rallies. On Friday, the key stock index plunged by more than 6 percent on Friday after topping the unprecedented 8,000-point level.