Delhi, 1 May (H.S.): Japanese and Australian markets showed gains on Thursday amidst volatile trading, responding to concerns over a potential U.S. recession indicated by recent economic data. Many Asia-Pacific exchanges, such as South Korea, Hong Kong, China, and India, were closed for Labor Day. Japan’s Nikkei 225 rose by 0.54%, while the Topix index increased by 0.23% following the central bank’s decision to maintain interest rates at 0.5%. The yield on 10-year Japanese Government Bonds remained stable at 1.312%, while the 20-year bonds saw a slight decrease of 1.3 basis points to 2.210%.
In Australia, the S&P/ASX 200 edged up by 0.16%. The country’s trade surplus surged to 6.9 billion Australian dollars ($4.42 billion) in March, significantly surpassing the 3.9 billion Australian dollar forecast from a Reuters poll. This increase was attributed to a rebound in iron ore exports and a rise in gold shipments, with exports increasing by 7.6% year-on-year and imports falling by 2.2%.
In the U.S., stock futures rose after strong quarterly earnings from key companies like Meta Platforms and Microsoft. Meta’s shares jumped over 4%, while Microsoft surged 8%, bolstered by strong performance and optimistic guidance in their cloud segment. Domestically, the S&P 500 and Dow Jones saw positive finishes, recording their seventh consecutive day of gains, reflecting ongoing market volatility. The S&P 500 increased by 0.15% to close at 5,569.06, whereas the Dow Jones added 141.74 points, settling at 40,669.36. The Nasdaq Composite remained stable at 17,446.34.
Asian markets exhibited a mixed performance on Wednesday as investors evaluated significant regional economic data. Japan’s Nikkei 225 rose by 0.57% to finish at 36,045.38, while the Topix gained 0.63%, closing at 2,667.29. Conversely, South Korea’s Kospi fell by 0.34% to 2,556.61, with the Kosdaq decreasing by 1.27% to 717.24. Australia’s S&P/ASX 200 increased by 0.69%, ending at 8,126.2, and Hong Kong’s Hang Seng Index rose 0.51% to 22,119.41.
The Bank of Japan commenced its policy meeting, expected to keep interest rates steady at 0.5% when it concludes on Thursday. Meanwhile, Australia’s Q1 inflation rose by 2.4% year-over-year, slightly exceeding Reuters’ forecast of 2.3%. On the contrary, China’s manufacturing sector faced a sharper contraction than anticipated, marking its lowest level in nearly two years amid escalating trade tensions with the U.S.
In U.S. markets, the Dow Jones Industrial Average increased by 300.03 points (0.75%), closing at 40,527.62, with the S&P 500 and Nasdaq Composite also recording gains of 0.58% and 0.55% respectively. Both the Dow and S&P 500 marked their longest winning streaks since July and November. President Trump noted positive progress on tariff discussions with India, and Treasury Secretary Bessent indicated ongoing trade discussions with Japan and South Korea.
The Indian stock market will remain closed on Thursday, May 1, due to Maharashtra Day.
Hindusthan Samachar / Jun Sarkar
