$45 Billion Asian Conglomerate Loses 83% Of Market Cap In Another Exchange Glitch

Jardine Matheson – the $45 billion market cap multinational enterprise with a portfolio of businesses
focused on the Asia-Pacific region – is now down 9%…

…after plunging as much as 83%, the most in data going back to 1990…

Three traders said the price action suggested a fat finger…but the step down function of the bid-offer suggests this was algos run wild…

SGX didn’t immediately respond to requests for comment

Jardine Matheson Holdings activities include financial services, supermarkets, consumer marketing, engineering and construction, automobile trading, insurance broking, property investment, and hotels.

Notably, it was just last week that a series of Chinese property developer stocks crashed 80-90% instantly. Are the Asian stock exchanges running of liquidity fumes?