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S Korean Bourse Triggers 'Upward Circuit Breaker' as KOSPI Rallies 12%
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Overnight (4th), US stocks advanced regardless of military tensions between the US and Iran and soaring oil prices. South Korean stocks opened sharply higher in the morning session, triggering the circuit breaker. The Korea Exchange activated the circuit breaker at 9:06 AM local time due to fluctuations in the KOSPI 200 futures, pausing "buy orders" for 5 minutes as the index rallied over 10%, according to Yonhap News Agency. This marks the third time in a month that the circuit breaker has been triggered in the South Korean stock market. The latest KOSPI skyrocketed 613 points or 12% at 5,706. Samsung Electronics, SK Hynix, Hyundai Motor, Doosan, and SK Square spiked 13-14%. The South Korean won last printed at 1,459 against the US dollar, up 0.2%. AASTOCKS Financial News Website: www.aastocks.com |
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