[Photo] Kosdaq surge causes sidecar trading suspension

The Kosdaq (Korea’s secondary stock market) closed at 873.05 points on Jan. 12, which was a 16-year high. The government claimed that the surge was the result of a series of new measures that were announced on Jan. 11, including tax breaks and the launch of new index products. The market, which saw a 4% jump from the previous day, had trading temporarily suspended on Jan. 12 due to a surge in bio stocks. Regulators announced a five-minute “sidecar,” a restraining measure designed to counteract rapid market fluctuation, at 2 p.m. (Yonhap News)