View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. Technology
  2. Cybersecurity
August 10, 2011

Hack attack disrupts Hong Kong Exchange

Malicious attack by 'outside hacking' being probed; Exchange sets up online bulletin

By CBR Staff Writer

Hackers have reportedly disrupted trading on the the Hong Kong stock exchange on Wednesday, blocking access to company announcements during the lunch hour.

Hong Kong stock exchange is one of the biggest stock exchanges in the world in terms of market capitalisation. Cathay Pacific Airways and five other stocks were halted because of the hack attack, according to Bloomberg.

The hack took place on a day when companies including Hong Kong Exchanges reported earnings.

After the company announced interim results, Hong Kong Exchanges & Clearing (HKEx) chief executive officer Charles Li confirmed the attack, saying, "Our current assessment that this is a result of a malicious attack by outside hacking."

The exchange said that trading in its securities and derivatives markets operated normally. Head of listing at HKEx Mark Dickens said that in case the website fails to recover on Thursday, the stocks will be not suspended and the exchange will use its online bulletin board to post information.

"This has affected the creditability and trustworthiness of information at a very critical time," said Charles Mok, who heads the Hong Kong division of the Internet Society, an international standard-setting group. "The situation is very worrying because the hacking is targeted at the information disclosure mechanism."

Content from our partners
Webinar - Top 3 Ways to Build Security into DevOps
Tech sector is making progress on diversity, but advances must accelerate
How to bolster finance functions and leverage tech to future-proof operational capabilities

The hacking attack is being investigated by the technology crime division of the Hong Kong Police’s Commercial Crime Bureau.

Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy