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AP Online via NewsEdge Corporation :

TOKYO_Japan’s two stock exchanges reported delays in transactions on Thursday due to a heavy volume of orders.

Jasdaq Securities Exchange in Tokyo said the high volume of orders for correction and cancellation of most of its 956 issues required more time than usual to process orders, the company said on its Web site.

Jasdaq trades mainly IT-related and service industries issues.

According to a Kyodo News Agency report, the high volume of orders produced a glitch in the order processing system that resulted in delays of up to eight minutes.

Exchange spokesman Kensuke Morimoto denied the report, citing the heavy concentration of orders placed in real-time as causing the delays. He added that the delays were no longer than one or two minutes.

Trading on the exchange resumed normally for the afternoon session, Morimoto said.

On the Osaka Stock Exchange on Thursday morning, trading was delayed because of the volume of orders for a single issue on its smaller Hercules market for startup companies, said exchange spokesman Hiroshi Ishii. A heavy volume of orders for Sunrise Technology Corp., a telecommunication stock, slowed down the notification of transactions to customers, Ishii said.

But there was no trouble with the exchange’s computer system, he said.

A total of 125 issues, including Sunrise Technology, are now listed on the Hercules market, which opened in 2002, he said.

<<AP Online — 12/30/05>>