TSE halts trading for all of Thurs

Marco Green
October 1, 2020

Japan Exchange Group Inc. said Thursday it made a decision to maintain its halt in trading of all shares listed on the Tokyo Stock Exchange for the entire day due to a system glitch, a first for the system since it was computerized in May 1999. In a notice on its website shortly before trading began at 9 a.m., Japan Exchange said it would not be able to accept orders.

Many stock markets have been hit with temporary glitches in the past.

The last time all stocks trade was suspended due to system glitch was on November 1, 2005, when trade was suspended for the whole morning session.

A technical problem forced a halt to all trading on Tokyo's stock exchanges on Thursday, with no information on when activity would resume, the bourse's operator said. That outage was due to a surge in trading that exceeded the system's processing capacity. This is because they also use the TSE system to execute trades.

The TSE said its off-trading hours trading system, ToSTNeT, also halted trading.

The system was developed by Japanese tech giant Fujitsu. Nikkei futures, which trade on the Osaka Exchange, rose following a rally in USA stocks on Wednesday.

A Japan Exchange Group statement gave no details about the nature of the glitch and didn't indicate when trading would resume again. The Japanese yen strengthened against the USA dollar to around 105.5 per dollar.

The trading halt closed one of the few major markets open in Asia on Thursday, with bourses in Hong Kong, Shanghai, South Korea and Taipei all closed for holidays.

Other reports by Click Lancashire

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