Dollars and Jens
Thursday, December 08, 2005
Mizuho Securities Admits Trading Error
Mizuho Securities Co., a brokerage unit of Japan's second-largest bank by assets, said it was responsible for an erroneous order to sell 40 times more shares in J-Com Co. than the company has outstanding.
Which sort of thing tends to be market-moving.
Shares of J-Com fell by the 15 percent limit to 572,000 yen in the first 30 minutes of trade on their Tokyo Stock Exchange debut after a trader offered so sell about 600,000 shares at that price or less, data compiled by Bloomberg shows.
Mizuho Financial's shares fell 31,000 yen, or 3.4 percent, to 890,000 yen in Tokyo.

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