The Korea Exchange issued a circuit breaker on the country's primary stock market Korea Composite Stock Price Index, or Kospi, in Monday morning trade amid extreme market volatility in light of the US-Israel-Iran war and increasing oil prices, Yonhap News reported Monday.
A circuit breaker activates if the index remains 8% below the previous session's close for one minute. The Korea Exchange announced the measure at 10:31 am after the Kospi plunged 452.8 points, or 8.11%, to 5,132.07, the report said.
Earlier, the Korea Exchange triggered a five-minute sell-side sidecar after the Kospi 200 Futures moved 5%+ for a minute. Investors monitored global energy volatility as West Texas Intermediate (WTI) crude surpassed $100/barrel on Sunday (US time), the report said.
After the index resumed transactions, it moved down 445.88 points, or 7.98%, to 5,138.99 as of 11:20 am, according to the report.
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