Tokyo bourse to resume futures trading after glitch
The Tokyo Stock Exchange said it would resume trading in futures after resolving glitches that had brought trade to a halt.
The halt is the latest in a string of computer problems for the world's second largest stock exchange.
The TSE has been upgrading its systems and working to regain the trust of investors after a series of mishaps in the past few years, including three months of limited trading hours after a stock sell-off in 2006 swamped its systems, and a halt to trade in TOPIX futures earlier this year.
Traders said the lack of futures trading was not having a major impact on JGBs or the stock market on Tuesday. Most futures trading in Japanese stocks takes place in Nikkei futures, which are on the Osaka Securities Exchange.
One stock market player said the glitch may have dampened the Nikkei's rise, but other traders said the impact was not widespread and investors cautiously awaited more US quarterly earnings results on Wall Street later in the day.
“The halt is not having a large impact on the JGB market, with most market players staying calm,” said a trader at a European brokerage.
“We were lucky as the incident happened when no major economic indicator was announced. Also, many traders squared their positions before the three-day weekend, feeling no great need to sell futures in hurry at the moment.”
Japanese financial markets were closed for a holiday on Monday. (Reuters)
ADVERTISEMENT
Number of Liquidations Increasing Rapidly
Varga Meets With Chinese Business Leaders
AutoWallis May Increase Planned Sales Due to Strong Performa...
Nearly 60% of Rural Guests Night in Spa Towns
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
