After Tuesday Morning System Glitch, Tokyo Stock Exchange Finishes Afternoon Up Big (TDK, MTU, KUB, SNE, CAJ, NIPNY, DCM)

The Tokyo Stock Exchange reportedly suffered its worst ever system glitch Tuesday morning. Trading was suspended the entire morning and finally began at 1:30pm, an hour after usual afternoon trading begins. Tokyo Stock Exchange officials blamed incompatible software that was used in system upgrades in October to increase trading capacity. For more details click on the hyperlink above ("reportedly"). A summary of Tuesday trading in Tokyo is below.

TOPIX +1.96% closed at 1,473.02

Nikkei 225 + 1.92% closed at 13,867.86

JASDAQ +0.88% closed at 106.40

Bloomberg reported that the TOPIX closed at its highest point (since Oct. 10, 2000) in over 5-years for the second straight day. The Nikkei 225 hasn't been this high since May 24, 2001.

The yen was sold against the dollar pushing the rate to over Y116.5/US$1.

TDK Corp (ticker: TDK) led the way for those companies with ADRs, closing up 6.66%. Mitsubishi UFJ Financial Group (ticker: MTU) finished the shortened trading day up 4.83%. Other ADRs' Tokyo traded shares that finished +2% include: Kubota (ticker: KUB), Sony (ticker: SNE), Canon (ticker: CAJ), NEC (ticker: NIPNY), and NTT DoCoMo (ticker: DCM).

Comments

[Steven Towns:]

See this link to a Yomiuri Shimbun article providing further coverage of the snafu yesterday morning on the Tokyo Stock Exchange that delayed the start of trading until the afternoon.

2005 Nov 01 08:09 PM