Asian markets rise but trade limited by Tokyo glitch, holidays

Asian markets rise but trade limited by Tokyo glitch, holidays


Hong Kong: Asian markets began to close on Thursday, Tokyo suffered a computer failure, and several other markets were closed due to holidays, although other parts of the region have achieved healthy growth due to the hope that the United States will introduce a new stimulus plan.

Wall Street performed strongly in all three major indexes and rebounded after the peak period in September. This was also due to the unexpectedly higher job creation in the US, which indicated good government data released on Friday.

The operator, Japan Exchange Group, said in a statement that trading on the Tokyo Stock Exchange ceased at around 8:35 a.m. (2335 GMT) due to a “failure related to the transmission of market information.”

The exact nature of the malfunction (which is the worst in 13 years) has no further explanation, but it means that the country’s main indexes (Nikkei 225 and Topix) cannot be opened at the beginning of the trading day. Trading is suspended all day.

Despite the normal operation of the Osaka Exchange, this issue has also affected transactions on several other exchanges, including Nagoya and Sapporo.

Due to public holidays, there is no trade in Hong Kong, Shanghai, Seoul and Taipei.

However, Sydney and Singapore rose more than 1%, while Jakarta and Wellington also rose because investors took over the baton from American traders.

Support came from rising hopes that US lawmakers could finally hammer out a new virus rescue package for the world’s top economy after months of deadlock.

House Speaker Nancy Pelosi and Treasury Secretary Mnuchin have held a series of talks this week aimed at breaking the impasse and both have said they were “hopeful”. 

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