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Heavy selling leads to shortened session at Tokyo stock exchange

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Wednesday, January 18, 2006

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Heavy selling in internet firm livedoor sparked a sharp selloff in Japanese stocks Wednesday. The exchange had to shorten the trading session as the number of transactions threatened to exceed the system capacity. The Tokyo stock exchange has a capacity to handle 4.5 million trades per day.

Wednesday's trading problems have added to recent woes with the trading system at the exchange. A glitch halted trading for almost a full day late last year. Tokyo stock exchange plans to offer its own shares for listing.

Prosecutors raided the Tokyo offices of livedoor on Monday, following allegations the company had violated Japanese securities laws. livedoor has denied that the company broke market rules by giving misleading information to shareholders. Shares in the company dived on Tuesday, dragging the overall index lower. One of Japan's best known internet companies, livedoor has grown rapidly through a series of takeovers and stock splits before Tuesday's share price fall.

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  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.

The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License
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