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Japan’s Shares Track Global Rally as Deutsche Bank Concern Eases
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Japanese shares climbed, following global equities higher, as concern over Deutsche Bank AG’s financial troubles receded on speculation the German lender’s settlement with U.S. authorities will be smaller than expected.
The Topix index added 0.6 percent at the close in Tokyo after dropping the most in nearly three weeks on Friday. Bank stocks, which fell the most among the Topix’s 33 industry groups last week, advanced on Monday after Agence France-Presse reported Deutsche Bank was nearing a pact to pay the U.S. Department of Justice $5.4 billion, less than half the amount initially levied on the lender as part of a probe tied to residential mortgage-backed securities.