Selling panic closes Tokyo Stock Exchange

[nullpointer]

Tokyo's stock exchange closed early for the first time in its history on Wednesday, in a bid to head off a meltdown after a frantic day's trading.

The move was sparked by heavy selling in shares following allegations of fraud at internet firm Livedoor.

The exchange suspended share dealing at 1440 local time (0540 GMT) - 20 minutes early - as the number of transactions threatened to breach trading capacity.
[t]japan[/t] [t]tokyo[/t] [t]stock[/t] [t]exchange[/t] [t]tse[/t] [t]panic[/t] [t]trading[/t] [t]suspended[/t] [t]shares[/t]

[Taro Toporific]

Tokyo's stock exchange closed early for the first time in its history on Wednesday, in a bid to head off a meltdown after a frantic day's trading.
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The Dow was down 64 points yesterday. Opening ought to be fun today. Yahoo on the NYE slumped bigtime yesterday but I cannot find a good estimate of Son-san's present crossholding of Yahoo shares from Softbank (long ago Softbank was Yahoo's largest shareholder).

[emperor]

so todays a good day to buy livedoor stock? or hang on till thins thing gets sorted out?

[Buraku]

Nippon in debts larger than 130% of its GDP, and suddenly the frantic stampede shuts Tokyo stock market

Takafumi Horie is going down

now that's fucked

[Greji]

Takafumi Horie is going down

Really? On who?

[goemon]

I cannot find a good estimate of Son-san's present crossholding of Yahoo shares from Softbank

I seem to recall reading it had dipped down to around 8% or so several months ago (down from around 37% several years ago). They've been constantly selling it off to subsidize their YahooBB operations and the purchase of the old Japan Telecom network.

[Buraku]

[Buraku]

- Prosecutors questioned top executives of Japanese Internet company Livedoor Co. on Friday as new allegations emerged related to the investigation, which sparked chaos on the Tokyo Stock Exchange this week.
Livedoor Chief Financial Officer Ryoji Miyauchi, director Fumito Kumagai and at least one other official were summoned, media said.
Authorities believe the once high-flying company, led by maverick Chief Executive Takafumi Horie, mishandled more acquisitions than initially suspected, media reports said.
Livedoor meanwhile said late on Friday it had submitted the findings of an internal investigation to the Tokyo Stock Exchange, but the exchange said the disclosure was not sufficient
http://money.cnn.com/2006/01/20/news/international/livedoor.reut/
Execs at Japan's Livedoor grilled
http://www.newkerala.com/news.php?action=fullnews&id=90513
New allegations emerge around Japan's Livedoor

[Tsuru]

Where do these allegations come from exactly?

After the first rumours of his political venture started to seep out I figured it wouldn't take long for the reptiles in the establishment to have him exposed and destroyed.

Sure, it took them a few months, but here we are.