South Korea’s benchmark KOSPI and secondary KOSDAQ each surged over five percent Thursday, prompting authorities to activate sidecars to temporarily suspend the buying of shares.

The Korea Exchange said the first sidecar order took effect at 9:06 a.m. and lasted five minutes, after the KOSPI 200 Futures Index jumped five-point-76 percent from the previous session to 322-point-20.

This is the first time since August last year that a sidecar order for buying has been activated in the KOSPI market.

On Monday, a sidecar order for selling was activated after KOSPI shares plunged more than five percent.

On the secondary market, a five-minute halt was activated at 10:46 a.m. after the tech-heavy KOSDAQ 150 Futures Index soared six-point-08 percent from the previous day.

This is the first time a sidecar has been activated on the KOSDAQ since August last year. 

Stock prices in the local market soared Thursday after U.S. President Donald Trump announced a 90-day pause on the reciprocal tariffs that took effect the previous day.