KOSPI falls 4.67%, triggering a five-minute trading halt

The Korea Exchange paused program trading in KOSPI shares for five minutes after the index plunged. The drop followed the Democratic Party's win in the US midterms.

MoneyVision newsroom · Published 5 Nov, 18:10 UTC · South Korea

-4.67%KOSPI fall at 10:16 a.m.

5,418.15KOSPI level

On Thursday the Korea Exchange triggered a sell-side sidecar on the Korea Composite Stock Price Index. A sidecar briefly halts program trading, meaning automated trading, when prices drop quickly. At 10:16 a.m., program orders for KOSPI shares stopped for five minutes.

The index opened 1.82% lower. By 10:16 a.m. it had lost 265.65 points, or 4.67%, to 5,418.15. The fall came after the Democratic Party's victory in the US midterm election.

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