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Sidecar Kicks in Following KOSDAQ's 5-Percent Plunge

Written: 2016-02-12 13:25:13Updated: 2016-02-12 14:32:32

Sidecar Kicks in Following KOSDAQ's 5-Percent Plunge

The South Korean stock market continues to wobble amid global uncertainties such as the inter-Korean Gaeseong Industrial Complex shutdown.

The tech-heavy KOSDAQ flopped 35-point-82 points or five-point-68 percent to 610-point-87 at around 1:20 p.m. on Friday. The drop led to a five-minute sidecar, a restraining measure that kicks in if the index declines more than five percent from the previous trading day's close. 

As of 1:20 p.m. on Friday, the benchmark Korea Composite Stock Price Index(KOSPI) dropped more than 25 points from Thursday's close to mark one-thousand-834-point-75.

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