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JSE resumes trading after technical glitch

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CIOL Bureau
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JOHANNESBURG, S.AFRICA: The Johannesburg Stock Exchange delayed the start of equity trading by 90 minutes on Monday due to a problem with its network, the latest technical glitch to stymie trade at Africa's biggest bourse.

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"We've had issues with our international connectivity," the JSE's chief operating officer, Leanne Parsons, told Reuters in a phone interview.

The JSE's overseas link is managed by South Africa's MTN Group, she said.

The delay comes as the JSE has seen an upswing in demand from foreign investors, who have net bought nearly 19 billion rand ($2.5 billion) of equities so far this year.

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It is not the first time for the JSE to be hit by technical woes. In September 2008 it halted trading for several hours due to connectivity problems. In March its regulatory news service failed to update for several hours.

Parsons said no decision had been made yet on whether the bourse would extend trading hours following the delay.

Trading on Monday began at 0830 GMT, 90 minutes later than usual. As of 0916 GMT, Johannesburg's Top-40 index .JTOPI was down 0.9 percent, while shares of the JSE were little changed.

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