Sep
29
Japanese Shares Drop as Lenders Slump on Deutsche Bank Concerns
ByJapanese shares slid, with the benchmark equity index erasing its gain for September, as escalating concerns over German lender Deutsche Bank AG’s capital troubles rippled across global markets.
The Topix index lost 1.7 percent as of 10:07 a.m. in Tokyo, heading for a 0.7 percent drop this month. Deutsche Bank’s New York-listed shares tumbled after Bloomberg News reported about 10 hedge funds doing business with the German lender have moved to reduce their financial exposure. The rout follows a request from U.S. authorities that Deutsche Bank pay $14 billion to settle claims the firm sold fraudulent mortgage-backed securities…
Japanese Shares Drop as Lenders Slump on Deutsche Bank Concerns
