KOSPI Surges 5%, Halts Programme Trade After Monday's Historic 8.4% Crash

South Korea's KOSPI staged a sharp recovery on June 9, with futures jumping over 5% and triggering a five-minute 'sidecar' programme trading halt, as Asian equities broadly rebounded alongside Japan's Nikkei. The rebound follows one of the index's most dramatic sessions on record: on June 8, the KOSPI plunged 8.44% to 7,477, activating only its ninth-ever Level 1 circuit breaker after a 20-minute halt. That crash was driven by 10% declines in Samsung Electronics and SK Hynix amid a U.S.-led chip rout and Fed rate-hike fears, compounding risks for retail investors holding a record 60 trillion won in leveraged equity positions, up 72.5% in 2025.