On September 27th, starting around 10:23 am, Shanghai stock market experienced zero transactions or trading delays. It was around 11:14 am when part of the stock market trading in Shanghai started to return to normal. However, the trading halt event in the afternoon at the Shanghai Stock Exchange (SSE) was still not entirely resolved.
In the morning of the 27th, the SSE encountered abnormal stock trading system behavior, which led to investors being unable to conduct transactions or cancel orders.
Numerous investors reported delays in trading through their brokerage firms. The abnormal trading situation at the SSE showed that transaction data stopped around 10:22 am, and subsequently, the market movement became erratic, with transaction amounts plummeting from billions to millions, reaching as low as a few million in volume.
On the same morning, the SSE disclosed that they had noticed abnormal slow confirmation of transactions in their stock auction trading after the market opening that day and were investigating the root cause of this issue.
Upon the market reopening in the afternoon, some investors reported difficulties in trading Shanghai stocks, with certain brokerage apps still experiencing issues with buying. Trading data indicated that abnormal trading activities reappeared for some Shanghai stocks, with significantly reduced transaction volumes.
Financial media outlet “Jinrongjie” reported that tests revealed such issues existed on the CITIC Securities app, with buy orders continually pending confirmation.
Several brokerage professionals mentioned that in the afternoon, some Shanghai stocks resumed normal trading, while others were still experiencing difficulties with transactions, possibly due to ongoing congestion that needed gradual resolution.
Notably, the performance of the Shanghai Composite Index remained abnormal, with minor fluctuations of around 2.5% and occasional erratic movements.
At the same time, abnormalities were also observed in stock market data provided by popular trading software like Tonghuashun and East Money. Tonghuashun’s investor relations department mentioned that they were investigating similar issues faced by other brokerage firms to identify the reasons behind them. They stated that investigations were underway based on client feedback regarding the specific brokerage firms involved, yet uncertainty remained regarding the source of the problem.
There were rumors circulating in the market that “the Shanghai Stock Exchange has temporarily suspended order collection.” These rumors were soon confirmed when the SSE responded to the media stating, “The SSE trading system experienced delays, and both the exchange and the brokerage firms are urgently investigating and repairing the issue.”
As of now, the SSE has not disclosed specific reasons for the disruption or estimated time for full restoration of operations.
The event described above sparked significant reactions online, with the topic quickly trending on social media platforms.
A netizen named “明天JiAniu” expressed concerns saying, “Unable to cancel orders, resulting in selling at a loss, what should we do?”