KOSPI Slides Over 4% Intraday as Sell Sidecar Triggered on Futures Drop

On the afternoon of the 15th, South Korea’s KOSPI fell more than 4% during trading. A sell sidecar was triggered in the main stock market after the KOSPI 200 futures index plunged by more than 5%. Individual investors net bought about 4 trillion won, but selling by foreign and institutional investors weighed on the index. Major market-cap stocks Samsung Electronics and SK Hynix also dropped in the 6% range intraday. The sharp futures decline reportedly raised program-selling pressure and widened market volatility. Investors are watching foreign and institutional flows as well as the fall in major semiconductor shares. Source: mk.co.kr