Japanese markets have hit a 'glitch'

The start of Q4 trading, Japanese markets have hit a 'glitch'.

There is no buying or selling.

We would like to express our sincere gratitude for your exceptional support for the operation of the Securities Market on this exchange.

Today, there is a failure to deliver market information, and we are pleased to let you know that we will stop buying and selling all stocks on the Tokyo Stock Exchange.

At the same time, it is not possible to accept orders from that time.

Recovery is currently undecided, but we will contact you again about future plans.

Market implications

Nikkei futures are down and the yen is offered.

This is not the first time this has happened. Errors have happened multiple times in the past whereby the Tokyo Stock Exchange was forced to temporarily halt trading in bond and stock index futures.

In some instances, this saw Japan's TOPIX index of all first section issues extend gains after the halt was lifted as latent demand from arbitrageurs looking to buy stock futures was unleashed.

The last time this happened was in 2018 when about 40 brokerages were affected by a glitch.

On that occasion, the glitch was caused after a broker sent an extraordinarily large amount of data through the channel,  according to the Japan Exchange Group (JPX), which operates the exchange.