A weekend systems upgrade led to wild swings in the stock market, said the Shanghai Stock Exchange, apologizing for the error.
Yesterday, CSI 300, CSI CSI 1000 and a drugmaker index movements baffled investors due to what the bourse claimed was an error caused by an update over the weekend of its «cross-market index calculation» system. The latter index dropped by more than 12 percent in the morning exceeding the daily regulatory cap of 10 percent.
Pricing systems were operating again by 1pm and other metrics will also be fixed after the market closes, the bourse added in a statement.
Pricing for individual stocks, bonds, funds and options linked to exchange-traded funds were not affected by the system error, the exchange said, adding that trading on the Shenzhen Exchange and the China Financial Futures Exchanges was also unaffected.
