Kospi rally fuels market swings unseen since financial crisis

South Korea's stock market is swinging at a pace not seen since the global financial crisis, as a record-setting Kospi rally collides with rising leverage and forced selling.

Sidecars, which halt program trading for five minutes when futures move more than 5 percent for at least one minute, were triggered 20 times in the first five months of the year.

Of those, 11 were triggered on the buy side and nine on the sell side.

This year's tally already accounts for a quarter of the 80 sidecars since t ...