Recurring tech failures rattle Nepal’s stock market
Summary
Repeated technical glitches at Nepal’s Stock Exchange have disrupted trading, shaken investor confidence and exposed more than Rs4.5 trillion in investor assets to risk. The latest outage, linked to a ransomware attack at Data Hub Pvt Ltd, prompted a trading suspension and triggered regulatory scrutiny.
Key Points
- Repeated technical failures at Nepse have triggered major disruptions, including false index crashes and a full-day trading halt.
- The latest incident stemmed from a ransomware attack at Data Hub Pvt Ltd, which hosts systems for 72 broker firms.
- Experts and investors say the recurring problems are undermining confidence and exposing trillions of rupees in assets to risk.
- The Securities Board of Nepal has ordered an investigation and asked Nepse for a report with recommendations by September 28.
