‘UNJUSTIFIED CONCERNS’:Deutsche Bank CEO John Cryan said the lender remains strong and holds a ‘comfortable buffer,’ with more than 215 billion euros in reserve
Taipei Times
Date: Oct 01, 2016
By: Staff writer, with CNA and AP
Local shares yesterday lost momentum and closed below the 9,200-point mark, amid global concerns
A man looks at an electronic board displaying stock figures in Taipei yesterday. Photo: CNA
over a financial crisis at Deutsche Bank AG.
The TAIEX ended down 104.05 points, or 1.12 percent, at 9,166.85, with turnover of NT$72.70 billion (US$2.32 billion), Taiwan Stock Exchange data showed.
Shares in the financial services sector weakened, with Fubon Financial Holding Co (富邦金控) closing down 1.07 percent at NT$46.3 and Cathay Financial Holding Co (國泰金控) ending 1.47 percent lower at NT$40.1.
Deutsche Bank has been a growing concern for investors after US authorities two weeks ago said they are seeking US$14 billion from the bank to settle legal claims over its sales of mortgage securities, complex investments that were one of the key causes of the global financial crisis in 2008.
With the German government giving no sign that it would be prepared to offer a bail [FULL STORY]
