On the first day of May, most stock markets in Asia did not work as it was a holiday. However, markets in Japan, as well as Australia, fell on May 1. Japanese stocks suffered losses at the beginning of the month.
The Nikkei 225 dropped 2.84% to close at 19,619.35 as shares of Tokyo Electron fell 5.51%. At the same time, the Topix index fell 2.24% to end its trading day at 1,431.26.
Moreover, Australia’s S&P 500 dropped 5.01% to close at 5,245.90 as shares of major miner BHP fell 7.76%. Also, shares of major banks such as Commonwealth Bank of Australia and Australia and New Zealand Banking Group fell by more than 4.5% each.
As stated above major markets in South Korea, as well as China, Hong Kong, Singapore, and India were closed for Holidays.
It is worth mentioning that, the South Korean exports fell in April at their sharpest pace since the global financial crisis. This data comes from the trade ministry. Also, exports dropped 24.3% year-on-year last month. Unfortunately, it was the worst contraction since May 2009.
South Korea has one of the largest economies in Asia. The data from the exporting powerhouse could provide useful information regarding the scale of the economic problems caused by the coronavirus pandemic.
The U.S. stocks in April
Today is a good time to analyze the U.S. stocks and how they performed in April. On April 30, the Dow Jones Industrial Average closed 288.14 points lower at 24,345.72. Meanwhile, the S&P 500 fell 0.9% to end its trading day 2,912.43. The Nasdaq Composite dropped 0.3% to 8,889.55.
Interestingly, for April the S&P 500 posted its third-largest monthly gain since World War Two. Last month, its index gained 12.7%. Moreover, it was the largest one-month gain for more than thirty years more precisely since 1987.
Also, the Dow Jones Industrial Average had its fourth-largest post-war monthly rally as the index added 11.1%. Additionally, it was the best month for Dow Jones in 33 years. Last month another U.S. stock index also improved its positions. The Nasdaq Composite jumped 15.% in April. As a result, it was its biggest monthly gain since June 2000.