Economy
Asian Equities Close Mixed as July 6 Deadline Draws Closer
By Investors Hub
Asian stocks ended on a mixed note Thursday as lingering trade war fears and a public holiday in the U.S. discouraged traders from taking long positions ahead of the July 6th deadline when the U.S. administration is due to slap tariffs on $34 billion worth of Chinese goods.
The minutes from the Federal Reserve’s June meeting, due out later in the day, and Friday’s U.S. jobs report were also on investors’ radar.
Chinese shares fell sharply as tariff worries overshadowed positive economic data. China’s private sector expanded at the fastest pace in four months in June on stronger increases across manufacturing and services, data from IHS Markit showed. The benchmark Shanghai Composite Index fell 25.15 points or 0.9 percent to 2,733.98.
Hang Kong’s Hang Seng Index gave up 59.58 points or 0.2 percent to end at 28,182.09 after data from IHS Markit showed the country’s private sector activity deteriorated at the steepest pace in nearly two years in June.
Japanese shares hit three-month lows as the deadline neared for the U.S. to start imposing tariffs on Chinese goods. The Nikkei 225 Index dropped 170.05 points or 0.8 percent to 21,546.99, its lowest close since April 4th. The broader Topix Index closed 1 percent lower at 1,676.20, with banks, retailers and nonferrous metal companies pacing the declines.
Index heavyweight Fast Retailing tumbled 2.5 percent. Ryohin Keikaku, which sells lifestyle goods under the “MUJI” brand, slumped 12.2 percent after unveiling financial results for the first quarter.
Mitsui Mining and Smelting plunged 4 percent and Sumitomo Metal Mining declined 3.8 percent as investors fretted about the prospect of an all-out trade war.
ANA Holdings shed 1.2 percent. The airline said it would cancel 113 domestic flights for mandatory checks to help assess possible glitches in the Rolls-Royce engines powering its Boeing 787 Dreamliners.
Meanwhile, Australian shares eked out modest gains in light trade, led by financials. The benchmark S&P/ASX 200 Index rose 32.10 points or 0.5 percent to 6,215.50, while the broader All Ordinaries index ended up 29.20 points or 0.47 percent at 6,302.90.
The big four banks rose between half a percent and 1.2 percent. Telecom stocks also rose, with Telstra climbing 1.9 percent to extend gains for a fourth straight session.
On the flip side, mining heavyweight BHP Billiton shed 0.6 percent and Rio Tinto dropped 1.2 percent as base metal prices retreated.
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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