Technical glitch halts buying and selling on Japan’s exchanges
A technical problem forced an all-day freeze on Japanese exchanges, including the popular Nikkei 225 index on Thursday.
According to the Japan Exchange Group, the shutdown took place when a backup system could not be activated after a hardware malfunction.
It was quickly pointed out that the halt was not linked to cyber attackers.
Trading on the main Tokyo stock exchange along with affiliated exchanges in Nagoya, Fukuoka and Sapporo has ceased.
The Japan Exchange Group apologized for the one-day shutdown and said it would resume trading as usual on Friday.
According to the World Federation of Exchanges, Tokyo’s stock market is the third largest in the world after New York and Shanghai, after New York and Shanghai.
The trade freeze closed one of Asia’s few major regional markets on Thursday. The Hong Kong, Shanghai, South Korea and Taipei stock exchanges were all closed for public holidays.
The suspension clouded sentiment among some investors who expected the market to rebound after a heated debate by the US President cut the Nikkei 225 1.5% on Wednesday.
- The New Zealand stock exchange has been stopped by cyber attacks
The trading stop was the first significant breakdown on the stock exchange since 2018, when some investment firms were unable to place orders due to a trading system problem.
The Nikkei 225 index contains the stocks of many of the largest Japanese companies, including Honda, Nissan, Hitachi and Canon.
Many stock markets have experienced temporary disruptions in the past.
In August, the New Zealand exchange was hit by cyber attacks, which forced it to stop trading within a week.
Over the past decade, tech-heavy Nasdaq, New York Stock Exchange, London Stock Exchange, Singapore Stock Exchange and Bombays Sensex have all faced technical glitches that delayed trading.
In 2017, a temporary market error caused the share price of several large technology companies on the Nasdaq to be incorrectly quoted at the same price.