Overseas Trading: Airlines Slump as Traders React to Paris Attacks

Travel and leisure stocks are slumping after Friday's terrorist attacks on Paris, while commodities rally

by Elizabeth Harrow

Published on Nov 16, 2015 at 8:27 AM

Asian markets finished mostly lower today, with airlines and travel stocks pacing the decline after Friday's coordinated terror attacks in Paris. Traders also eyed a gross domestic product (GDP) report showing Japan fell back into recession during the July-September period, with the economy contracting for a second consecutive quarter. However, China managed a positive finish, after capital markets on the mainland netted inflows during October for the first month in five. By the close, Hong Kong's Hang Seng fell 1.7%, South Korea's Kospi lost 1.5%, Japan's Nikkei shed 1%, and China's Shanghai Composite edged up 0.7%.

Many European markets have muscled onto positive ground at mid-session, led by strength in commodity stocks as traders flock to oil and gold. However, as in Asia, tourism-dependent sectors -- such as airlines and hoteliers -- are trading broadly lower as investors react to the Islamic State siege on Paris. At last check, London's FTSE 100 is up 0.3%, the German DAX has added 0.2%, and France's CAC 40 is off 0.3%.

Overseas markets 1116


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