Japan, October 2: Tokyo stock markets successfully reopened on Friday after a hardware failure caused an unprecedented day-long halt to trading on one of the world's biggest exchanges. A system error forced the operator of the Tokyo Stock Exchange to halt trading on Thursday.

The glitch was the result of hardware problem at the bourse’s “Arrowhead” trading system, and a subsequent failure to switch to a back-up, causing the first full-day suspension since the exchange moved to all-electronic trading in 1999. Tokyo Stock Exchange Halts All Trading in the Biggest Technical Glitch to Hit Its Network in Over 10 Years.

Tokyo Stock Markets Reopened: 

#UPDATE Tokyo stock markets successfully reopened on Friday after a hardware failure caused an unprecedented day-long halt to trading on one of the world's biggest exchanges HTTP://t.co/0pohTQO0R8

Experts expressed some relief that the problem was hardware-related rather than a cyberattack but cautioned about a potential longer-term impact given the hit to the Tokyo market’s reputation. The TSE system’s developer, Fujitsu Ltd, also apologised and said any findings would be disclosed through the exchange.

Reportedly, Thursday's halt was the first full-day suspension since the exchange moved to all-electronic trading in 1999. In 2005, trading was halted for 4 1/2 hours due to a botched system upgrade, and the equity trading completely suspended. This issue even led to the resignation of the president of the exchange.

(The above story first appeared on LatestLY on Oct 02, 2020 07:30 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).