According to the Korea Exchange, the circuit breaker on the Kosdaq market was triggered at about 12:23:13 p.m., halting trading for 20 minutes. At the time, the Kosdaq index was down 66.00 points, or 8.01%, at 757.88.
The Korea Exchange triggers a "Level 1" circuit breaker when the Kospi or Kosdaq index falls 8% or more from the previous session's close and the decline persists for one minute. Once triggered, trading halts for 20 minutes and order acceptance is also suspended, except for cancellation orders. After trading resumes, a single-price auction is conducted for 10 minutes.
It was the first Level 1 circuit breaker on the Kosdaq market in about two and a half months, since July 29.