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Asian Stocks Slide as Deutsche Bank Jitters Boost Dollar, Gold
What’s set to be the best quarter for Asian stocks since 2012 is ending on a sour note as concern about the financial health of Germany’s biggest lender unnerves investors, fueling demand for haven assets including the dollar, gold and sovereign bonds. Financial shares were the biggest drag on the MSCI Asia Pacific Index after Deutsche Bank AG slid to a record low in the U.S. as Bloomberg News reported that some hedge funds have cut their exposure to the lender. U.S. and U.K. equity index futures declined, while a gauge of the greenback’s strength advanced and the yield on benchmark U.S. Treasuries slipped to a ... (full story)