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Trading resumes on the SGX on Friday

SINGAPORE — The Singapore Exchange opened for trading at regular hours at 9am on Friday (July 15), a day after trading was suspended due to a technical malfunction.

Singapore Exchange on July 14, 2016. Photo: Koh Mui Fong/TODAY

Singapore Exchange on July 14, 2016. Photo: Koh Mui Fong/TODAY

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SINGAPORE  — The Singapore Exchange opened for trading at regular hours at 9am on Friday (July 15), a day after trading was suspended due to a technical malfunction.

The Straits Times Index (STI) was up 0.82 per cent or 23.74 points to 2,930.66 at 9.01am. At 9.30am, shares were lifted slightly, up 0.90 per cent or 26.19 points to 2,933.11.

Some companies whose announcements had been interrupted due to the technical malfunction from the local bourse resumed operations.

Resources Prima Group, which had requested for a trading halt at 9.41am on Thursday to make an announcement on receiving a permit, had requested for the lifting of the halt this morning at 8.25am, before the market opened. Volume traded was heavy for the stock, and it was one of the top volume traded companies this morning, with 24.9 million shares changing hands at 9.10am. The stock rose 5.56 per cent 10 minutes into the morning’s open at 5.7 cents.

On Thursday, trading in its securities market was suspended since 11.38am after trade confirmation messages were found to be duplicated. The local bourse subsequently said it was planning to resume trading at 2pm but did not. It then postponed trading to open at 4pm, but at 4.01pm, SGX told the market it would not reopen for the day. Trading was expected to resume as per normal on Friday.

In a statement by the local bourse on Friday, it marked an apology from SGX’s CEO Loh Boon Chye. He said: “We sincerely apologise for the market disruption. Our recovery time has to be better and we must minimise downtime for market participants.  I would like to thank our members and participants for working closely with us to resolve the issue.”

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