Economy
Asian Stock Markets Crash Amidst Heavy Selling Pressure
By Investors Hub
Asian stocks succumbed to heavy selling pressure on Friday after U.S. President Donald Trump escalated his trade war with China, saying that progress on a trade deal was moving too slowly.
Chinese shares fell as Trump’s fresh salvo in the yearlong trade spat extended tariffs to nearly all Chinese imports into the United States.
The benchmark Shanghai Composite Index tumbled 40.93 points or 1.4 percent to 2,867.84, while Hong Kong’s Hang Seng Index plummeted 647.12 points or 2.4 percent at 26,918.58. The Chinese yuan hit its lowest level since November 2018 before paring some losses.
Japanese shares hit a six-week low as U.S.-China trade tensions flared up once again, raising fresh concerns about the outlook for the global economy.
The Nikkei 225 Index ended down 453.83 points or 2.1 percent at 21,087.16 after falling as low as 20,960.09, its weakest level since June 18. The broader Topix ended 2.2 percent lower at 1,533.46 amid selling across the board.
Shares with exposure to China were among the worst hit. Komatsu, Fanuc and Hitachi Construction Machinery gave up 2-5 percent. Market heavyweight SoftBank declined 2.5 percent and Fast Retailing shed 0.9 percent.
Exporters Canon, Toyota Motor, Honda Motor, Sony and Panasonic lost 2-4 percent as the yen hit a more than one-month high against the dollar and multi-year peaks against antipodean currencies.
Apple supplier Sharp Corp. tumbled 13.7 percent after reporting a lower than expected quarterly operating profit, while Casio Computer jumped 8 percent on solid quarterly results.
On the data front, Bank of Japan policymakers discussed further easing as most members shared the view that it was appropriate to continue with the powerful monetary easing, the minutes of the monetary policy meeting held on June 19 and 20 showed.
“The key to overcoming deflation was for the Bank to maintain its stance of taking some kind of policy response if any changes emerged in the baseline scenario of the outlook for prices,” the minutes said.
Australian markets fell modestly as miners were rattled by a fresh threat from Trump to extend trade tariffs to nearly all Chinese imports. Gold mining companies surged on safe-haven buying, helping limit overall losses in the broader market.
The benchmark S&P/ASX 200 Index dropped 20.30 points or 0.3 percent to 6,768.60, while the broader All Ordinaries Index ended down 25.80 points or 0.4 percent at 6,846.10.
Rio Tinto tumbled 3.1 percent despite delivering a record dividend payout and announcing its highest margins in a decade. BHP lost 3.7 percent and Fortescue Metals Group slumped 6.1 percent amid heightened trade war fears.
Gold miners Evolution, Newcrest and Resolute Mining soared 7-11 percent. GrainCorp, Australia’s largest bulk grain handler, plunged 5.4 percent after the company warned that it was likely to post a loss this year.
Lender ANZ shed 0.8 percent and NAB eased half a percent. Oil Search, Origin Energy, Santos and Woodside Petroleum declined 2-3 percent after crude oil prices plunged almost 8 percent overnight. Dairy processor Bega Cheese gave up 4.3 percent after cutting its full-year earnings outlook.
In economic news, Australian retail sales advanced 0.4 percent month-on-month in June, following a 0.1 percent rise in May, a government report showed. This was the fastest growth since February and better than the expected increase of 0.3 percent.
Seoul stocks fell sharply as Japan’s cabinet approved a plan to remove South Korea from a list of countries that enjoy minimum export controls. The benchmark Kospi ended down 19.21 points or 1 percent at 1,998.13.
SK Telecom rallied 3.3 percent. The telecommunications operator said its sales jumped 6.8 percent year-on-year to 4.4 trillion won in the April-June period, led by solid growth from its media business
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