Economy
Asian Equities Rise as Chinese Premier Backs Slowing Economy
By Investors Hub
Asian shares finished broadly higher on Friday after U.K. lawmakers backed delaying the Brexit process and Chinese Premier Li Keqiang pledged support for the slowing economy during his annual news conference at the end of the National People’s Congress.
China’s Shanghai Composite Index rallied 31.07 points or 1 percent to 3,021.75 as Li said the country could use reserve requirements and interest rates to prevent a sharper deceleration in the world’s second-largest economy. Hong Kong’s Hang Seng Index rose 160.87 points or 0.6 percent to 29,012.26.
Japanese shares advanced to end two days of declines. The Nikkei 225 Index climbed 163.83 points or 0.8 percent to 21,450.85 after the Bank of Japan left its monetary stimulus program unchanged, as widely expected but offered a relatively weak assessment of the economy. The broader Topix closed 0.9 percent higher at 1,602.63.
A weaker yen helped lift export stocks, with Canon, Honda Motor and Toyota rising between 0.6 percent and 1.1 percent. Tokyo Electron surged up 2.8 percent after Broadcom posted better than expected first quarter earnings.
Descente jumped 2.7 percent after trading house Itochu Corp. said it has acquired a 40 percent stake in the sportswear maker. Shares of Itochu gained 0.7 percent.
Machinery maker Komatsu jumped 1.8 percent and robot maker Fanuc added 1.4 percent on hopes of Chinese stimulus.
Meanwhile, Australian markets ended marginally lower in thin trading, dragged down by financials and mining companies. The benchmark S&P/ASX 200 Index edged down 4.40 points or 0.1 percent to 6,175.20.
ANZ dropped 1 percent as Morgan Stanley downgraded its rating and price target on the stock. Commonwealth shed 0.8 percent and Westpac declined half a percent, while NAB rose 0.6 percent.
Mining heavyweight BHP fell 1.8 percent and smaller rival Fortescue Metals Group dropped 1.2 percent as copper prices drifted lower on weak China industrial output data released the previous day.
Seoul stocks rose as investors watched global trade issues and developments on the Brexit front. The benchmark Kospi rallied 20.43 points or 1 percent to 2,176.11.
Tech heavyweight Samsung Electronics gained 0.8 percent and SK Hynix jumped 1.2 percent. Mobile carrier SK Telecom advanced 2.8 percent after launching its 5G Mobile Edge Computing Open Platform.
On the other hand, Samsung Biologics, which is under investigation for suspected violation of accounting rules, slumped 4.2 percent.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn