May 4, 2025

Australian stocks fell Monday after Prime Minister Anthony Albanese returned to power, while most Asian markets were closed for holidays.

Albanese is the country’s first prime minister to clinch a second consecutive term in 21 years, indicating Australians’ desire for policy continuity amid an uncertain global macroeconomic outlook.

The benchmark S&P/ASX 200 pared losses to 0.7%, reversing course from strong gains in its last session when it hit its highest level since Feb. 27.

Read more:

https://www.cnbc.com/2025/05/05/asia-markets-live-australia-markets-set-to-rally.html