Economy
Asian Equities Fall as Beijing Begins Financial System Clean up
By Investors Hub
Asian stocks finished broadly lower on Tuesday as oil prices fell and Beijing stepped up its crackdown on shadow banking and other risky forms of financing.
Investors also awaited developments on U.S. tax reform ahead of a crucial Senate vote and the confirmation hearing for Fed Chair nominee Jerome Powell.
Japanese shares ended marginally lower after a government source said Japan has detected radio signals from North Korea that indicate Pyongyang could be preparing for another ballistic missile test. The yen reversed gains, helping limit overall losses in the market.
The Nikkei 225 Index gave up early gains to close less than a tenth of a percent lower at 22,486.24. The broader Topix index slid 0.3 percent to finish at 1,772.07.
Toray Industries shares slumped 5.3 percent after the company said a subsidiary had falsified data. Defense-related Howa Machinery jumped as much as 12.5 percent.
Australian shares ended a choppy session marginally lower, dragged down by mining and telecommunication stocks. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index both ended down about 0.1 percent at 5,984.30 and 6,066.70, respectively.
Weaker commodity prices pulled down miners, with BHP Billiton and Fortescue Metals Group tumbling 2-3 percent, while Rio Tinto shed 0.8 percent. Telstra Corp dropped 1.7 percent in the wake of NBN’s move to delay work on the national broadband network rollout.
Mayne Pharma fell 2.4 percent after the company warned of soft first half. Origin Energy rallied 2.5 percent after the company reaffirmed its full-year guidance.
In economic news, Australian consumer confidence eased during the week ended November 28, after strengthening in the previous two weeks, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed.
Meanwhile, Chinese stocks reversed initial losses to close higher as investors hunted for bargains following recent weakness.
The benchmark Shanghai Composite Index rose 0.3 percent to 3,333.66, although Hong Kong’s Hang Seng Index edged down 5.34 points or less than a tenth of a percent to 29,680.85.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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