SYDNEY/WELLINGTON: Trading on Australia's stock exchange was halted just 20 minutes from the open on Monday due to "market data issues", though the benchmark managed to hit its highest in nine months in the short window, while New Zealand extended gains to a tenth session.
The Australian bourse operator said it identified the underlying issue and had a fix in place to let trading resume on Tuesday at 10 a.m. (2300 GMT Monday). The benchmark ASX 200 index ended up 1.2% at its highest close since Feb. 27, as early trade went in favour of strong factory output from China, Australia's top trading partner.
The so-called "Big Four" banks added as much as between 1.4% and 2.7%, while energy sector heavyweights Woodside Petroleum and Santos gained 1.1% and 1.7%, respectively.
In New Zealand, the benchmark index closed at its highest level of 12,744.92 points. Air New Zealand was one of the top percentage gainers, closing 3.1% higher, while local shares of the Australia and New Zealand Banking Group added 2.8%.
"I think we'll see extended volumes and more volatility than normal in tomorrow's trading," said Nick Twidale, general manager at IC markets.
"It's a concern that the technology for the major exchange in Australia is at fault for this long."
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