Why was Nepal’s stock market shut on Monday?
Summary
Nepal’s stock market was shut on Monday after a ransomware attack at DataHub Pvt Ltd disrupted trading systems used by 72 brokerage firms. Regulators halted trading to avoid further damage and raised fresh concerns about the resilience and data security of the country’s capital market infrastructure.
Key Points
- A ransomware attack at DataHub Pvt Ltd disrupted the trading systems of 72 brokerage firms, forcing Nepse to suspend trading on Monday.
- The Stock Brokers’ Association of Nepal asked Nepse to halt trading because the affected systems and payment gateways were still unresolved and posed further risks.
- The outage has raised concerns about Nepal’s dependence on a single market infrastructure provider and the security of investor data.
- Nepse has not said whether trading will resume on Tuesday.
