Selling on the Tokyo Stock Exchange was so hectic and of such a volume on Wednesday and Thursday (November 15-16), that they were forced to suspend trading for half a day no thursday, so that clerks could catch up with the increased documentation.
GV PAN..down exterior of stock exchange building
CU Signs of stock exchange
SV INTERIOR..PAN DOWN from ceiling to trading floor
SV Stock exchange boards
SV Trading under way (3 shots)
SV Trading board
SV Trading continues
SV INTERIOR..office with clerks wearing headbands
SCU Clerks writing protest notices
SV PAN..clerks leaving office and pinning slogans to wall (5 shots)
Initials ES. 1430 ES.1445
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Background: Selling on the Tokyo Stock Exchange was so hectic and of such a volume on Wednesday and Thursday (November 15-16), that they were forced to suspend trading for half a day no thursday, so that clerks could catch up with the increased documentation. Trading will also be suspended tomorrow (Saturday) for the same reason.
It is the first time since February 1961 that the Tokyo Exchange has had to close due to increased volume of trading. Much of the daily buying has been by small investors - and the market average rose to an all-time high 4,602.78, exceeding 4,600 level for the first time. The turnover was of 700 million shares - mainly in steel, chemicals and heavy electrical manufacturing equipment - compared with a 200 million turnover on average days.
The increased buying of stocks is said to have been caused primarily by the heavy inflow of United States dollars since last month, in anticipation of a possible yen revaluation.
SYNOPSIS: The stock exchange in Tokyo on Thursday - the second day of the two most hectic trading days since February 1961. Such was the volume of the buying and selling - that trading was suspended in the afternoon... to allow the Market's fifteen-hundred clerks to catch up with the increased documentation.
Much of the buying was by small investors - and the market average rose to an all-time high of four-thousand-six-hundred-and-two point seven-eight....... the first time it has passed the four-thousand-six-hundred level. The turnover was of seven-hundred million shares - mainly in steel, chemicals and heavy electrical manufacturing equipment - compared to the averaged daily turnover of two-hundred million shares.
The exchange clerks also demanded the suspension of trading on health grounds - saying that such sustained work was impossible to maintain. A second day of closure was also called for Saturday.