Jardine Strategic is down 3.9% at US$34.86 ($42.66), while Jardine Matheson is off 1.7% at US$60. Several analysts say they aren’t aware of a specific driver for the declines.
“Specifically Jardine Strategic, and to a slightly lesser degree, Jardine Matheson, are both quite illiquid stocks compared with their size. That’s why you get these large moves,” an analyst says.
The Oct 17 low at US$33.90 may offer a near-term support for JS, while JM may find support around Oct 18’s US$57.70 low. Both stocks are still up around 26% year-to-date.