The Korean Stock Exchange (KRX) has imposed its 38th trading suspension this year after the price of the Korea Composite Stock Price Index (KOSPI) fell by 4.46% due to further decline in volatility.
According to local news reports, the Korea Stock Exchange today suspended trading in the entire KOSPI index and the Korea Securities Dealers Automated Stock Index (KOSDAQ) index through sell-side car activation.
To prevent extreme volatility, these pauses halt trading whenever the market declines by more than 5%.
Joseon Biz According to a report, trading was suspended due to selling sidecars for the second consecutive day. Today, KOSPI is below 6,500, and its value has fallen by 28% over the past month.
This is also KOSPI’s 20th sell sidecar activation this year, with KOSDAQ triggering it 10 times. But overall, there have reportedly been an unprecedented 38 trading suspensions this year, including a 20-minute market-wide suspension other than Sidecar.
South Korea’s stock market is officially more volatile than before $BTC
KOSPI was more volatile throughout June than before as the price fluctuated widely. $BTC.
Geopolitical events are also currently impacting international markets. Despite a temporary rally in semiconductors related to the success of the AI industry, SK Hynix and Samsung Electronics fell -36% and -31%, respectively, over the last month.
Meanwhile, tensions between the US and Iran are rising again as tankers transiting the Strait of Hormuz continue to be targeted.
South Korea’s energy industry relies heavily on imported fossil fuels, which account for 80% of the country’s energy use.
Most of this fuel has to pass through the Strait of Hormuz before reaching South Korea, leaving South Korea’s financial markets vulnerable.
