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Tokyo Stock Exchange under fire for poor communication after crash

Bourse confirms Friday restart to trading following first full-day shutdown

Tokyo Stock Exchange officials apologize for system problems at a news conference in 2012. (Photo by Daiki Katagiri)

TOKYO -- The Tokyo Stock Exchange was the target of criticism Thursday for failing to disclose information and leaving retail investors in the dark after a system failure caused the bourse to shut down an entire day of trading for the first time.

The exchange first detected a hardware malfunction just after 7 a.m., and contacted brokerages at 8:01 a.m. to ask them to refrain from sending orders. But an overall trading halt was not announced to the broader public until about 8:39 a.m., and even then the news appeared only on the TSE website.

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