Bank Stocks Decline in Asia as Deutsche Bank Concerns Increase
- China’s Bocom, Mitsubishi UFJ lead drop among Asian lenders
- Deutsche Bank’s New York-listed shares fell to record low
What Do Deutsche Bank Clients, Investors Fear?
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Bank stocks extended a global slump in Asia as investors fretted over regional lenders’ exposure to Deutsche Bank AG’s mounting woes.
Declines in Bank of Communications Co. and Mitsubishi UFJ Financial Group Inc. on Friday have put an index of Asian banks on course for its lowest close in two weeks after Bloomberg News reported about 10 hedge funds doing business with the German lender have moved to reduce their financial exposure. Deutsche Bank’s New York shares fell 6.7 percent to a record low on Thursday, leading a slump by banks listed in America.