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Tokyo Hold the Trading Guilty


On Thursday afternoon, the Tokyo Stock Exchange back to trading after the failure of a major information-distribution system urged it to halt trading of 241 problems in the morning session.

The temporary suspension was the first key disruption in trading since the world's third-biggest exchange upgraded the system in early 2010 after a connected of embarrassing technical glitches urged the bourse to massive investments for replace an ancient trading platform.

The trading stop that was announced before the market open, it were affected as 222 companies, including blue-chip stocks such: s Sony Corp. and Hitachi Ltd.

Besides that, the trouble also hurt other instruments including exchange-traded funds, real-estate investment trusts and convertible bonds.

The TSE back to trading of all the suspended stocks from the afternoon session, with the Nikkei Stock Average trading edge higher than the midday close which recently rose 0.9%.

“The trading halt was caused by a mistake in one of the eight servers the TSE which uses for stock data distribution”, the exchange spokesman said.

“But the bourse is remains examining what sparked the server error.”

Japan's Financial Services Agency that oversees the stock exchange forced the bourse to investigate the cause and to make avoid the system trouble from happening again. (WSJ.com)

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