Stock Market : Technical glitch halts trading at Tokyo Stock Exchange

Technical glitch halts trading at Tokyo Stock Exchange

Tokyo, Oct 1 : The Tokyo Stock Exchange (TSE) halted trading on Thursday due to a technical glitch, the cause of which is under probe.

Due to the outage which is having a major impact on businesses and individual investors, stock exchanges in Nagoya, Fukuoka and Sapporo have also suspended activity because they also use the TSE system to execute trades, Japan’s public broadcaster NHK said in a news report.

About 3,700 companies are listed on the TSE.

In a statement, the TSE said that there was no timeline for when they will reopen.

But the exchange in Osaka is currently trading.

This is the first time the TSE has suspended all trading since January of 2006.

That outage was due to a surge in trading that exceeded the system’s processing capacity, the NHK report said.

The system was developed by Japanese tech giant Fujitsu.

The company has said that it was currently looking into the problem.

Meanwhile, Japan’s Financial Services Agency has launched a probe into the cause of the outage.

IANS

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