such markets should be " well strong proper to absorb it without lasting damage " , he said . " i would stress that these circumstances are exclusive to societe and should not appeal to other banks operating in asia . " barings faced injuries of at least 600m in contracts on one stock exchanges in singapore , zurich and tokyo , he said , but ' further unquantifiable losses ' were possible .
The banking firm Barings collapsed due to speculations made by Nick Leeson.