Economy
Asian Markets Close Mixed Ahead of New US Tariffs on Chinese Goods
By Investors Hub
Asian stocks turned in a mixed performance on Friday in response to a dovish European Central Bank statement and the Bank of Japan’s weaker view on the inflation outlook. Trade concerns persisted ahead of likely announcement of U.S. tariffs on Chinese goods.
The euro extended declines against the dollar after the ECB indicated plans to wind down its bond-buying program and pledged to keep interest rates on hold for at least a year.
Chinese shares hit a 20-month low on worries that rising trade tensions could add pressure to the country’s economic growth.
The benchmark Shanghai Composite Index fell 21.23 points or 0.7 percent to 3,022.93, its lowest level since September of 2016 as the U.S. prepared to impose ?pretty significant? tariffs on Chinese goods.
Hong Kong’s Hang Seng Index dropped 130.6 points or 0.4 percent to 30,309.49 despite Fitch Ratings affirming the country?s sovereign ratings of with a ‘stable’ outlook.
In another development, the nation’s central bank adjusted its interest rate upward after the U.S. Federal Reserve hiked its key rate by a quarter point.
Meanwhile, Japanese shares rose and the yen weakened after the Bank of Japan kept its monetary policy steady, as widely expected, and downgraded its view on inflation. The Nikkei 225 Index climbed 113.14 points or 0.5 percent to 22,851.75, while the broader Topix Index closed 0.3 percent higher at 1,789.04.
Fast Retailing, Mitsui Mining & Smelting, Fujitsu, Daiichi Sankyo, TDK and Taiyo Yuden were among the prominent gainers.
Australian shares rose sharply to reach a one-month high as a surge in iron ore prices helped lift mining stocks and banks also recovered from recent losses.
The benchmark S&P/ASX200 Index rallied 77.40 points or 1.3 percent to 6,094, while the broader All Ordinaries Index jumped 1.2 percent at 6,205.30.
BHP Billiton rose half a percent after the mining giant unveiled plans to develop its majority-owned South Flank iron ore mine in Western Australia. Rio Tinto, South32 and Fortescue Metals Group climbed 1-2 percent.
Gold miner Evolution Mining advanced 1.4 percent and Newcrest Mining jumped 2.5 percent after gold prices rose to a one-month high.
Energy stocks Oil Search, Origin Energy, Woodside Petroleum and Santos also climbed 1-3 percent after an increase in crude oil prices. Banks ANZ, Commonwealth and Westpac rallied around 2 percent each.
Biotechnology and medical device company Sirtex Medical soared 4.6 percent after it accepted a A$1.87 billion takeover offer from China’s CDH Genetech.
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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