It seems trading errors on the Tokyo Stock Exchange are contagious. After local trader Mizuho Securities triggered a panic sell-off in a local recruitment company in December by incorrectly inputting order instructions, another large Tokyo trading firm, Nikko Citigroup, mistakenly purchased one thousand times more shares in a company than it intended in January.
First prize for trading error of the month, however, goes to Daiwa Securities SMBC. The firm placed a sell order for the wrong company entirely, triggering a sharp fall in the share price before realizing its error and buying back the shares already sold.
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