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

Elizabeth Harrow
Nov 16, 2015 at 8:27 AM
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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%.

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