The problem was a software issue that created inaccurate market data, according to the Australian Securities Exchange (ASX). The markets had a strong opening before the ASX announced trading had been paused mid-morning.
The shutdown is the most serious since the exchange experienced a hardware failure in 2016, according to BBC. The problem is expected to be fixed overnight, and the exchange will reopen at 10AM 17 November 2020.
ASX was introducing a new trading system for its equity market, which it has been testing for over a year. Australia was one of 15 countries that signed a new Asian trade deal on 15 November 2020.
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