TOKYO -- The Tokyo Stock Exchange has been forced to abandon trading activity on Thursday after a system glitch brought Japan's stock market to a grinding halt for the first time in over a decade.
TSE said on Thursday that trading of all stocks would be halted due to an "issue in the distribution of market information." 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.
It later said trading would be halted for the entire day and did not say when it would resume operations.
"TSE sincerely apologizes for any inconvenience caused to investors," it said.
It is the first complete trading halt due to a system error since November 2005. The TSE also suspended trading of all stocks in January 2006, when an investigation into Livedoor triggered a flood of orders.
The Nagoya Stock Exchange, Fukuoka Stock Exchange and Sapporo Securities Exchange have also halted trading activity. The exchanges all use the Tokyo Stock Exchange's system to execute trades.
The TSE said its off-trading hours trading system, ToSTNeT, also halted trading.
Fujitsu, the information technology services company that developed the TSE's "arrowhead" trading system, told Nikkei that it was "currently checking the situation." The TSE began using the system in 2010, and upgraded it last November.
Futures trading on the Osaka Exchange is ongoing as usual. Nikkei futures, which trade on the Osaka Exchange, rose following a rally in U.S. stocks on Wednesday. The Japanese yen strengthened against the U.S. dollar to around 105.5 per dollar.
The issue has shuttered one of the few stock markets in Asia that was scheduled to be open on Thursday. Chinese markets are closed due to the Golden Week holiday period, while exchanges in Hong Kong, South Korea and Taiwan are also closed.
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October 01, 2020 at 07:10AM
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Japan share trading halted all day by Tokyo Stock Exchange outage - Nikkei Asian Review
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