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ASIAN markets ended mixed yesterday as investors shrugged off the terror bomb attacks in London after realising that the economic fallout would not be as bad as initially feared.
Allianz AG said it was facing a euro1 million to euro9 million (US$1.2 million to US$10.7 million) exposure from the bus and subway explosions in London on Thursday because of its participation in a terrorist-risk coverage plan led by the British government.
Surprisingly calm investors pushed stocks modestly higher Thursday, helping Wall Street recover from steep early losses after the London terror attacks that killed at least 40 people and injured more than 700.
Near simultaneous explosions rocked the London subway and a double-decker bus at the morning rush hour Thursday, police said, causing at least two deaths, injuring scores of riders and sending bloodied victims fleeing from debris-strewn blast sites.p>hr noshade size=-1 width=50%>/p>
US stocks tumbled Wednesday as oil prices climbed to a new record on fears of refining shortages and caused investors to look past a report showing strong growth in the service sector of the economy. The Dow Jones industrials dropped more than 101 points, or nearly 1 percent.
Japanese stocks fell Thursday as oil prices surged to new highs in Asian trading, sparking renewed concerns about the vulnerability of resource-poor Japan.