Shares of consumer companies rose as investors rotated out of sectors with higher valuations such as tech and biotech.
Air France-KLM, China Eastern Airlines and Delta Air Lines strengthened their partnership with the latter two each buying a 10% stake in the Franco-Dutch carrier.
In China and Hong Kong, retailers are depending less on traditional advertising and more on "key opinion leaders"--celebrities or bloggers with large social-media followings--according to one brokerage. "Ultimately, legacy brands will face an onslaught of competition from new brands which now have a means, through social media and KOLs, to gain consumer mind and wallet share," Morgan Stanley analysts wrote in a research note.
Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
July 27, 2017 17:14 ET (21:14 GMT)