SEOUL, March 12 (Reuters) - The Korea Exchange said on Thursday it activated sidecar curbs on the benchmark KOSPI for the first time in more than eight years to halt programme trading as the index extended its fall by more than 5%.
The nation’s bourse operator said the sidecar was activated at 1:04 p.m. for five minutes and has been lifted.
The last time the sidecar has been activated in the Seoul’s main board was in early October 2011.
Sidecar trading curbs are activated when prices fluctuate 5% compared to their previous close for over a minute. The system imposes an upper and lower limit to ease impact from sharp market moves. (Reporting by Joori Roh, Cynthia Kim; Editing by Muralikumar Anantharaman)