<p>Mitsubishi UFJ Securities Holdings said Tuesday it could face a $300 million loss in its dealings with a US client in what could be the latest deficit caused by last week's massive stocks sale.</p>.<p>The Japanese brokerage house, a unit of Mitsubishi UFJ Financial Group, said its European subsidiary was involved in "an event" on March 26 that could lead to a financial loss.</p>.<p>Without naming the client, the Tokyo-based firm said the $300 million loss would not affect its businesses, adding: "This estimate is subject to change depending on the unwinding of the transactions and market price fluctuation."</p>.<p>The announcement came after top global banks Nomura of Japan and Switzerland's Credit Suisse warned Monday they could face significant losses following reports of their exposure to a US fund that sold billions in stocks last week.</p>.<p>Neither bank named the client but the warnings follow a Bloomberg News report that a little-known fund on Friday sold more than $20 billion in stocks from US media and Chinese companies listed in New York.</p>.<p>The unusually large sale by Archegos Capital Management, which looks after businessman Bill Hwang's fortune, was carried out directly by major houses Morgan Stanley and Goldman Sachs.</p>.<p>Among the companies sold were top Chinese names such as Baidu Inc, Tencent Music Entertainment Group and Vipshop Holding -- all under pressure at home as Beijing reins in the tech sector -- plus US giants such as ViacomCBS and Discovery.</p>
<p>Mitsubishi UFJ Securities Holdings said Tuesday it could face a $300 million loss in its dealings with a US client in what could be the latest deficit caused by last week's massive stocks sale.</p>.<p>The Japanese brokerage house, a unit of Mitsubishi UFJ Financial Group, said its European subsidiary was involved in "an event" on March 26 that could lead to a financial loss.</p>.<p>Without naming the client, the Tokyo-based firm said the $300 million loss would not affect its businesses, adding: "This estimate is subject to change depending on the unwinding of the transactions and market price fluctuation."</p>.<p>The announcement came after top global banks Nomura of Japan and Switzerland's Credit Suisse warned Monday they could face significant losses following reports of their exposure to a US fund that sold billions in stocks last week.</p>.<p>Neither bank named the client but the warnings follow a Bloomberg News report that a little-known fund on Friday sold more than $20 billion in stocks from US media and Chinese companies listed in New York.</p>.<p>The unusually large sale by Archegos Capital Management, which looks after businessman Bill Hwang's fortune, was carried out directly by major houses Morgan Stanley and Goldman Sachs.</p>.<p>Among the companies sold were top Chinese names such as Baidu Inc, Tencent Music Entertainment Group and Vipshop Holding -- all under pressure at home as Beijing reins in the tech sector -- plus US giants such as ViacomCBS and Discovery.</p>