The market value of a century-old company has plummeted by 41 billion US dollars
Jan 24, 2019| The Jardines, which has a history of hundreds of years, plunged 83% in early trading, but quickly recovered lost ground. Traders speculated that it might be fat fingers that caused stock prices to plummet.
The Singapore-listed stock fell sharply in pre-market trading, with its share price once reported at $10.99 and Wednesday's closing price at $66.47. As of 10:03 am in Singapore, most of the decline has been reversed, falling only 0.1%. According to four traders, according to price movements, this plunge may be caused by human error. A spokesperson for the Singapore Exchange Ltd. said in an e-mail that the exchange is investigating the plunge. Jardine Matheson did not immediately respond to requests for comments.
Marc Tan, research analyst at KGI Securities Pte, said that from the price recovery, it looks like a fat finger incident before new news emerges.