Asian stock markets exhibited mixed performance on Monday, May 5, 2025, with some major markets closed for public holidays, leading to reduced trading activity. Australia's shares experienced a decline following Westpac's recent earnings report [1].
Westpac Banking Corp (ASX:WBC) reported a 1% year-on-year decrease in net profit after tax to $2.13 billion (A$3.3 billion) for the six-month period ending March 31, 2025 [2, 3]. This dip was attributed to rising costs and margin pressures [4]. Westpac's shares fell following the announcement [4]. The bank's CEO, Anthony Miller, acknowledged geopolitical uncertainty and shifting trade policies as key risks [2].
Investors are closely monitoring developments regarding potential trade discussions between the U.S. and China [15, 16]. China has stated it is considering trade talks with the U.S., emphasizing sincerity and the removal of tariffs [7]. However, the situation remains uncertain, with conflicting reports and statements from both sides [14, 15].