Tokyo Stock Exchange suffers worst-ever system crash
Afp, Tokyo
The Tokyo Stock Exchange was forced to suspend trading in all shares for the first time ever Tuesday after its computer system crashed in an embarrassment for Asia's largest bourse which plans to go public. Software failure delayed the start of trade for the entire morning and the first 30 minutes of the afternoon session but shares still managed to rise 1.92 percent after dealing resumed to close at a four and a half year high. The crash came a day after two important events for the market -- Prime Minister Junichiro Koizumi's cabinet reshuffle and the publication of an upbeat twice-yearly economic outlook from the Bank of Japan. It also comes at a delicate time for the TSE, which has already been forced to delay a planned initial public offering of its own shares that it hopes will boost efficiency and competitiveness. "The technical glitch... may cause further delay to the TSE's initial public offering," said Mitsuru Yoshikawa, head of the Capital Market Research Headquarters of the Daiwa Institute of Research.
| 
