© Reuters. Tokyo Stock Exchange temporarily suspended all trading due to system problems
© Reuters. Tokyo Stock Exchange temporarily suspended all trading due to system problems

TOKYO (Reuters) – The Tokyo Stock Exchange said normal trading would resume on Friday morning as planned, a day after the worst-ever outage brought the world’s third-largest equity market to a standstill.

The glitch was the result of hardware problem at its “Arrowhead” trading system, and a subsequent failure to switch to a back-up, the bourse said on Thursday.

It caused the first full-day suspension since the exchange switched to all-electronic trading in 1999.

The outage came on a day of high anticipated trade volume following the release of the Bank of Japan’s closely watched tankan corporate survey and a rise on Wall Street.

The meltdown also occurred just two weeks into new Prime Minister Yoshihide Suga’s term — during which he has prioritised digitalisation — and undermined Tokyo’s hopes of replacing Hong Kong as an Asian financial hub.

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