(Updates with exchange reopening and stockbroker quote)
WELLINGTON, March 8 The New Zealand stock
exchange opening was delayed by 90 minutes on Wednesday
due to a technical problem, likely reducing trading volumes for
Bourse operator NZX Ltd said it had "experienced
issues" with its trading system and gateway connections, forcing
a system restart.
Trading began just after 11.30 a.m. local time (2230 GMT
Tuesday), delayed from the usual 10 a.m. start.
Jeremy Sullivan, a stockbroker at Hamilton Hindin Greene,
said trading volumes were likely to be lower given many trades
go through at the open and the close.
"It's not the first time and it probably won't be the last
time we have a problem, computers aren't perfect," Sullivan
NZX spokeswoman Hannah Lynch did not immediately provide
further details on the glitch and said it would be several days
before the exchange publishes a report on the problem.
The NZX suffered several outages in 2014 owing to technical
problems, on one occasion halting trading for three hours
because of a glitch in the same system that caused Wednesday's
Neighbour Australia has also had problems. A technical
problem on the ASX in September closed the
bourse for several hours, infuriating traders.
(Reporting by Tom Westbrook; Editing by Richard Pullin)