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Shares in Japan and Australia fell in Friday morning trading, with most major Asian markets closed for the holidays.
Australia’s S & P / ASX 200 fell 3.8%, with shares of leading mining company BHP falling more than 6%. Shares in major banks, such as the Commonwealth Bank of Australia and Westpac, also fell at least 3.5% each.
The Nikkei 225 in Japan fell 2% in the morning trade, and Tokyo Electron shares fell more than 4%. The Topix index also returned 1.44%.
The region’s main markets, including China, Hong Kong, South Korea, India and Singapore, are closed on Friday for holidays.
On the economic data front, South Korean exports fell in April at their fastest pace since the global financial crisis, Reuters reported on Friday, citing data from the Ministry of Commerce. Exports fell 24.3% yoy in April, the worst contraction since May 2009. Still, it was slightly less than expectations for a 25.4% drop in a Reuters poll.
The release of data from South Korea, a major Asian economy and exporting power, could provide clues to the magnitude of the economic impact of the coronavirus pandemic. Globally, more than 3.2 million people have been infected, while at least 233,000 lives have been lost, according to data compiled by Johns Hopkins University.
Overnight in the United States, the top averages fell on the day, but they capped their best monthly performances in years. The Dow Jones Industrial Average closed 288.14 points lower at 24,345.72 while the S&P 500 fell 0.9% to end its trading day at 2,912.43. The Nasdaq compound fell 0.3% to close at 8,889.55.
Still, Thursday’s moves did little to affect monthly earnings for all three indices.
For April, the S&P 500 posted its third highest monthly gain since World War II, with a 12.7% increase in April. It was also its biggest one-month gain since 1987. The Dow had its fourth largest monthly rally after the war with a gain of 11.1%. The Dow also had its best month in 33 years. Nasdaq increased 15.5% in April, its highest monthly gain since June 2000.
Meanwhile, oil prices rose in the morning of Asian business hours as international benchmark Brent crude oil futures gained 1% to $ 26.75 a barrel. US crude oil futures also rose 3% to $ 19.41 a barrel.
The US Dollar Index, which tracks the dollar against a basket of its peers, was at 99,158 after a decline from levels above 100 seen earlier this week.
The Japanese yen was trading at 107.13 per dollar after weakening sharply yesterday from levels around 106.5. The Australian dollar changed hands to $ 0.6473 after seeing highs around $ 0.657 yesterday.
– CNBC’s Fred Imbert contributed to this report.
