Buying and selling in Japanese shares has been suspended resulting from technical points. Nikkei futures rise

© Reuters. People walk past an exchange after the Tokyo Stock Exchange (TSE) temporarily suspended trading due to system problems in Tokyo


TOKYO (Reuters) – Japanese stocks were suspended on Thursday's lunch break after the Tokyo Stock Exchange (TSE) previously suspended trading of all stocks due to technical issues.

TSE said it doesn't know when the problem will be fixed. The courses in Nagoya, Fukuoka and Sapporo, which use the TSE system, also ceased trading. The Osaka Exchange derivative is not affected.

A statement from the TSE gave no further details.

Nikkei futures (), trading in Osaka, were last up 0.56%, an overnight rise in US stocks.

The Nikkei () fell 1.5% on Wednesday, its biggest drop in two months, as heated debate between US President Donald Trump and Democratic challenger Joe Biden heightened concerns over an indecisive November presidential election result.

"The timing is really just bad," said Takashi Hiroki, chief strategist at Monex in Tokyo, about the trading freeze. Many market participants were hoping to buy back their stocks or add their holdings after an overnight surge on Wall Street.

"As expected, US stocks were not affected by the US presidential election and instead gained on economic hopes. And that could have spurred share buybacks in the early Japanese market. But the market was deprived of that opportunity."

The TSE has been prone to system problems in the past and notorious for its sluggish trading. However, problems were relatively rare as she expanded her capabilities with the introduction of a new system in 2010.

The TSE ceased trading in October 2018 due to problems with its trading system.

In 2006, news of an accounting scandal sparked a massive sell-off at the then popular internet company Livedoor Co. The TSE was unable to handle the onslaught of orders from panicked investors and had to cut trading hours for three months.

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