South Korea’s KOSPI Falls Below 6,000 as Sell-Side Sidecar Activates

  • The Korea Exchange activated a sell-side sidecar after KOSPI 200 futures fell 5.08%.
  • The KOSPI fell 6.05% to 5,997.99 at 11:20 a.m. on Oct. 13.
  • Foreign investors sold a net 2.3 trillion won of stocks.

South Korea’s Korea Exchange activated a sell-side sidecar on Oct. 13 after KOSPI 200 futures fell 5.08% and remained below the trigger for one minute, temporarily suspending program sell orders. The KOSPI later fell more than 6% below 6,000, reaching 5,997.99 at 11:20 a.m. after touching an intraday low of 5,988.22. Foreign investors sold a net 2.3 trillion won of stocks, while institutions and individuals bought a net 808.9 billion won and 1.27 trillion won, respectively. Samsung Electronics fell 7.29% and SK Hynix dropped 8.35% amid concerns about Chinese competition and AI-related valuations. Investors were awaiting U.S. consumer-price data due Wednesday in U.S. time for signals on the Federal Reserve’s October policy meeting.

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