SHANGHAI Aug 16 Major brokerage Everbright
Securities Co Ltd said in a filing to the Shanghai
Stock Exchange that its trading system encountered problems
Friday morning, following a dramatic 5 percent spike in domestic
stock indexes that many suspected was the byproduct of a trading
Trading in the Chinese company's shares was suspended in the
afternoon, according to a statement on the website of the
Shanghai Stock Exchange.
"This morning, Everbright Securities strategic investment
department's proprietary trading bureau had a problem when using
its own arbitrage system," the statement said, adding that the
company is investigating the issue.
The 21st Century Business Herald, a major Chinese business
newspaper, reported in the afternoon that Everbright was
applying to cancel all its morning trades.
(Reporting by Lu Jianxin and Pete Sweeney)