KRX says brief stock trading halt caused by technical glitch
The Korea Exchange (KRX), the operator of the country's main stock exchange, said Tuesday that a brief trading halt of companies listed on the main bourse was caused by a glitch in the calculation of excessive quotations for a certain company.
The trading of stocks on the main Korea Composite Stock Price Index (KOSPI) market froze for 7 minutes from 11:37 a.m. to 11:44 a.m., marking the first time since 2005 that the trading of all KOSPI-listed shares had been halted.
The KRX said excessive bids for Dong Yang Steel Pipe caused the malfunction of the whole trading system.
The bourse operator said it will check the trading system of Nextrade (NXT), the country's first alternative stock exchange, every week as the number of stocks traded on the NXT is set to increase to 800 this month. (Yonhap)
