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|Asia stocks slip as Deutsche sours mood, oil pulls back|
Asian stocks extended losses on Friday as worries about the health of Deutsche Bank weighed on financial shares and as oil prices inched back from near-one month highs on scepticism over OPEC's new plan to curb output. MSCI's broadest index of Asia-Pacific shares outside Japan lost almost 1 percent and was on track for a 0.8 percent drop for the week. On Thursday, Wall Street lost about 1 percent as Deutsche Bank shares slumped to a record low after a report that trading clients had withdrawn excess cash and positions held in the largest German lender.
|U.S. economy less sluggish in second quarter; companies investing more|
U.S. economic growth was less sluggish than previously thought in the second quarter as exports grew more than imports and businesses raised their investments, hopeful signs for the economic outlook. Other data released by the Commerce Department showed America's trade deficit for goods shrank in August, boding well for third-quarter growth. "It now appears that growth is slowly making its way back on to firmer ground," said Michael Feroli, an economist at JPMorgan in New York.