All the way from Seoul Korea, we bring you yet another example of efficient markets in action.
On Thursday, the benchmark Kospi index fell 2.7 per cent at the close of trade on what we understand was a single large computer-driven sell programme originating from a European bank:
Reuters had originally connected the move to the expiry of Kospi futures and options.
Although, according to the wire, the sell order led to a record amount of foreign investor share selling.
All we can presume is that this has absolutely nothing to do with the G20 meeting currently transpiring in Seoul (as we pixelate).
Related links:
Birinyi: Mini flash crashes have been a problem for ages - FT Long Room