global markets should be " quite strong enough to absorb it without sustaining damage " , he said . " i would expect that these circumstances are native to securities and should not apply to other investors residing in england . " generale faced losses of at least 600m in licenses on three stock exchanges in singapore , osaka and tokyo , he said , but ' further unquantifiable losses ' were expected .
The banking firm Barings collapsed due to speculations made by Nick Leeson.