Economy
Asian Equities Give up Early Gains to Close Mostly Lower
By Investors Hub
Asian markets ended mostly lower on Thursday, with investors digesting a slew of economic reports from the region and reacting to an interest rate hike in the U.S.
Although most of the markets in the region started off on a slightly positive note, many of these gave up early gains. In China, the central bank’s decision to increase rates on open market operations weighed on sentiment.
The Australian market failed to hold early gains and ended flat, although a few front line stocks managed to register handsome gains.
The benchmark S&P/ASX 200 Index declined 10.50 points or 0.2 percent to 6011.30, snapping a five-session winning streak.
Shares of mining companies Independence Group and Resolute Mining Limited gained nearly 6.5% each. West Areas, Whitehaven Coal and Syrah Resources gained 4.75 – 5.4 percent.
Myer Holdings plunged 9.6 percent following a profit warning by the company. Metcash, RTL Food, Credit Corp and Qantas declined 2.8 – 3.3 percent.
In economic news, the unemployment rate in Australia came in at a seasonally adjusted 5.4 percent in November, the Australian Bureau of Statistics said. That was in line with expectations and unchanged from the October reading.
The Australian economy added 61,600 jobs last month, shattering expectations for a gain of 19,000 jobs following the addition of 7,800 jobs in the previous month.
Save for a few minutes at the start of the session, the Japanese were in negative territory, despite reasonably encouraging economic data. The benchmark Nikkei 225 Index ended down 63.62 points or 0.3 percent at 22,694.45.
Rakuten declined nearly 5 percent. Konica Minolta, Yahoo Japan, Furukawa Electric, Chiyoda Corp, Daikin Industries, TDK Corp, Casio Computer, Concordia Financial Group, Nikon Corp, Credit Saison, Resona Holdings, Softbank Group, Mizuho Financial Group and Matsui Securities ended lower by 1 to 3 percent.
Data released by IHS Markit showed manufacturing activity in Japan to have expanded at the fastest pace in nearly four years in December. The Nikkei flash Manufacturing Purchasing Managers’ Index climbed to 54.2 in December from 53.6 in November.
On the price front, input price inflation eased in December, while output price inflation accelerated to a 41-month high, data showed.
According to a report from the Ministry of Economy, Trade and Industry, Japanese industrial production rebounded as initially estimated in October, rising a seasonally adjusted 0.5 percent month-over-month. In September, production had declined 1.0 percent.
In China, the Shanghai Composite Index declined 9.46 points or 0.3 percent to 3,293.58. Hong Kong’s Hang Seng Index declined 55.72 points or 0.2 percent to settle at 29,166.38.
The Chinese central bank unexpectedly lifted its rates on open market operations following the Federal Reserve’s decision to tighten its policy rates. The People’s Bank of China raised its 7-day and 28-day reverse repo rates by 5 basis points to 2.50 percent and 2.80 percent, respectively. The bank raised the rate on its Medium-term Lending Facility by 5 basis points to 3.25 percent.
Data released by the National Bureau of Statistics showed industrial production in China to have grown 6.1 percent year-on-year in November, slower than the 6.2 percent increase recorded a month earlier.
Meanwhile, retail sales grew at a faster pace on domestic consumption, improving to 10.2 percent, up 0.2 percent from the previous month.
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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