BUSINESS

Australian, New Zealand stocks fall after Paris attacks

Staff Writer
Columbus CEO

SYDNEY (AP) — The Australian and New Zealand stock markets began trading lower Monday after becoming the first markets in developed economies to open since Friday's terrorist attacks in Paris killed 129 people.

New Zealand's benchmark S&P/NZX 50 index was down 0.6 percent in early trading. Among the stocks to decline was the national carrier, Air New Zealand, which was trading down 1.4 percent.

Australia's market dropped even more steeply when it opened two hours later. The benchmark S&P/ASX200 index fell 1.4 percent in initial trading and the broader All Ordinaries similarly fell 1.3 percent.

The markets opened as France launched air strikes on the Islamic State group's stronghold in Raqqa, Syria. The Islamic State claimed responsibility for the attacks.

Police have announced seven arrests in the case and say they're hunting for more suspects.