Profit-taking sparks sharp Kospi reversal

The South Korean benchmark Kospi plunged during intraday trading Tuesday, amid heavy profit-taking after SK hynix became the market's most valuable listed company in the previous session.

The Kospi opened 0.34 percent down at 9,083.54.

The index traded flat in early dealings before turning sharply lower around noon.

A sell-side sidecar, a five-minute halt on program trading, was triggered at 11:40 a.m., and a marketwide circuit breaker followed at 2:33 p.m. after the Kospi tumbled 8.11 percent t ...