Overseas Trading: Europe Stocks Sink as Turkey Downs Russian Jet

Mining stocks dragged Hong Kong lower, while Europe is rattled by fresh tensions along Syria's border with Turkey

by Elizabeth Harrow

Published on Nov 24, 2015 at 8:20 AM

Stocks in Asia settled mostly higher today, though persistent weakness in the mining sector dragged Hong Kong's Hang Seng to a 0.4% loss. Meanwhile, gains were capped to a modest 0.2% for the Shanghai Composite, as investors brace for an influx of up to 28 initial public offerings (IPOs) set to hit the market before the end of the year. Japan's Nikkei endured a volatile session as traders returned from a long weekend, bouncing back from early losses to add 0.2% on strength in automakers and electronics giant Sharp. South Korea's Kospi extended its outperformance to a second session, rising 0.6% amid news of a tie-up between SK Holdings and OCI Materials.

European markets are firmly lower at midday, with airlines and other travel stocks tumbling after a Russian warplane was shot down by a Turkish fighter jet near the Syrian border. This news, along with a Nomura downgrade of the luxury goods sector, is overshadowing an unexpected uptick in the German Ifo business climate index, which improved this month to its highest level since June 2014. At last check, the French CAC 40 is down 1.8%, the German DAX is off 1.5%, and London's FTSE 100 has shed 1.1%.

Overseas markets 1124


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