A renewed rout in German-based lender Deutsche Bank is pressuring the global financial sector
Asian markets settled mostly lower today, pressured by declining energy and bank stocks. Specifically, oil prices retreated as anxiety grew over
an agreement by global oil producers to curb output, while
a renewed rout in German-based lender Deutsche Bank weighed on financial shares.
In Japan, the Nikkei dropped 1.5%, following a report that showed consumer prices fell to their lowest level since February 2015. Elsewhere, Hong Kong's Hang Seng gave back 1.9%, while South Korea's Kospi slumped 1.2%. China's Shanghai Composite managed to buck the regional bearish bias, though, adding 0.2%, after the Caixin manufacturing purchasing managers index (PMI) edged higher in September.
European stocks are down at midday, as Deutsche Bank's troubles spread to the broader banking sector. At last check, the French CAC 40 is down 1.3%, while the German DAX is down 0.8%, and London's FTSE 100 is off 0.7%.
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