KOSPI Sidecar Halts Hit 33 Times, Circuit Breakers Triggered 6 Times YTD as Volatility Spikes

According to the Korea Exchange, as of July 10, the KOSPI's sidecar halts have been triggered 33 times (16 buy-side, 17 sell-side) so far this year, already exceeding the 26 recorded during the 2008 global financial crisis. Circuit breakers have been activated 6 times in 2026, accounting for half of the 12 total triggers since the mechanism was introduced in 2000.

On a trading day basis (127 trading days), sidecar halts have been triggered roughly every 3.9 days. Analysts attribute the spike to expansion of leveraged ETFs concentrated in semiconductor stocks like Samsung Electronics and SK Hynix, combined with program trading and derivatives activity amplifying market swings. JP Morgan strategist Mixo Das noted in a recent report that "high volatility is likely to become a structural characteristic of the Korean stock market going forward," while geopolitical tensions and oil price fluctuations add to uncertainty.