SINGAPORE (Jan 25): What was shaping up to be a ho-hum market open in Singapore suddenly became the most dramatic session in years, with a haphazard spree of sell orders causing a US$41 billion ($55.8 billion) crash in the city’s biggest stock.
Jardine Matheson Holdings, the flagship investment firm of a 186-year-old conglomerate that hadn’t posted a double-digit stock decline since April 2009, plunged 83% in pre-market trading on Thursday. While the drop reversed almost as quickly as it happened, some 167,500 shares changed hands at prices less than a quarter of the previous day’s close.
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