Keppel Corporation (SGX:BN4) shares plummeted 3.10% in intraday trading on Wednesday, as investors reacted to news of the company completing the voluntary liquidation of its wholly owned subsidiary, Keppel Capital One Pte. Ltd. This corporate action appears to have unsettled the market, leading to a significant sell-off in Keppel's stock.

The liquidated subsidiary was part of Keppel Capital, the group's asset management platform, which has recently undergone internal restructuring. While the company likely views this move as a streamlining effort, the market's negative reaction suggests that investors may be concerned about potential implications for Keppel's asset management business or overall corporate strategy.

The downward pressure on Keppel's stock had been building throughout the day, with an earlier report noting a 2.24% drop by late morning. The continued decline to 3.10% indicates that investor sentiment remained bearish as the trading session progressed. This sharp downturn highlights the market's sensitivity to corporate restructuring efforts, especially in key business segments like asset management.