The Singapore Exchange said there was no trading error behind the 64 percent plunge by shares of STX Pan Ocean Co. (STX), South Korea’s biggest dry-bulk carrier, during the final few minutes of trading yesterday.
Two lots totaling 300 STX Pan Ocean shares changed hands at S$1.595 apiece at 5:04:25 p.m., according to data compiled by Bloomberg. The stock was trading at S$4.25 about five minutes earlier.
There was no error reported by the parties to the transactions, the exchange said today in an e-mailed statement, adding that it monitors market activity closely.
STX Pan Ocean said yesterday in an e-mail it couldn’t immediately comment on the stock plunge. The company’s Seoul- listed shares closed unchanged at 4,125 won.
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