Photo: flickr/ Aramisfirefly
For some reason the stock market down under just came to a halt.The Australian Securities Exchange put all its shares into “enquire phase,” meaning that trading is halted.
This is the status from the ASX status website:
“10:25 – ASX Markets remain in ENQUIRE, all trade 27/10 under review.”
An earlier status mentioned “technical difficulties.”
UPDATE: According to the Brisbane Times, deals were halted by a “trading glitch.” That report said BusinessDay talked to a trader who said it could be hours before the mess is all sorted out.
When that glitch is fixed, the market will go into a “pre notice received” mode, followed by a 10-minute “pre-auction” phase, giving traders 10 minutes to sort out their bids.
A spokesman for ASX says there’s no word on when trade will be resumed (via Marketwatch). “Naturally we seek [answers] as soon as we can,” she said.
UPDATE II: Aussie trading has now been down for over an hour and a half two hours, with no end in sight.
Everyone’s talking about how much this will boost gold, however we haven’t seen a ton of strength there. Gold stands at just over $1720 per ounce.
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