Stock and bond trading on the Tokyo Stock Exchange was scrapped this morning thanks a system glitch.

Problems started before the market's opening at 9am local time (midnight GMT) and caused the start of trading to be delayed until 1.30pm.

The glitch is the most serious to hit the exchange since floor trading was scrapped and an all-electronic trading system was installed in 1999. The system, which is supplied by Fujitsu was upgraded last month.

Tuesday's problem appears to have been caused by a software error related to that upgrade.