Asian stocks followed Wall Street's upward trend.

On May 1st, Asian stock markets recorded gains in a quiet trading session due to the holiday, following record gains driven by technology stocks on Wall Street.

Stock market index board in Hong Kong (China). Photo: THX/VNA

In Tokyo (Japan), the Nikkei 225 index rose 0.4% to 59,513.12 points. The Hong Kong and Shanghai markets (China) were closed for a holiday. Meanwhile, indices in Sydney and Wellington both gained.

Asian stocks were driven by the earlier surge on Wall Street. At the close of trading on April 30th, the S&P 500 and the Nasdaq Composite continued to break records thanks to strong corporate earnings reports and positive economic data. Shares of Alphabet, Google's parent company, rose 10% after reporting better-than-expected earnings and solid revenue in its core businesses. Shortly after, Apple also announced better-than-expected revenue driven by strong iPhone demand.

Michael Brown, an analyst at Pepperstone, noted that the market has been completely convinced by the solid earnings outlook from the tech giants. Risk appetite has also been bolstered by the easing of geopolitical tensions.

In terms of macroeconomic data, the US Department of Commerce estimates that the world's largest economy will grow at 2% in the first quarter of 2026. The main driver is the boom in investments in artificial intelligence (AI), which is helping to offset signs of slowing consumer spending.

In addition, peace talks between the US and Iran have remained deadlocked throughout the past week. There are currently no signs that the two sides will soon reach an agreement to reopen the Strait of Hormuz, a vital waterway currently blockaded, cutting off one-fifth of the world's oil and gas supply.

In the currency market, the Japanese yen held steady against the US dollar, a day after surging amid speculation that the Japanese government would intervene to support the exchange rate. The yen closed on April 30 at just over 157 yen/USD, a significant recovery from its earlier low of 160.72 yen/USD.

Despite repeated warnings from Japanese officials about the currency's sharp decline and indications of a willingness to intervene, Vice Minister of Finance for International Affairs Atsushi Mimura declined to comment on whether Japan would actually take action. However, he affirmed that Japanese authorities are maintaining close contact with their U.S. counterparts.

The Vietnamese market is closed for the holiday.

Source: https://baotintuc.vn/thi-truong-tien-te/chung-khoan-chau-a-noi-got-da-tang-cua-pho-wall-20260501161936846.htm