Economy
Asian Equities Close Mixed as Investors Trade Cautiously
By Investors Hub
Asian stocks ended mixed on Tuesday as scant details about the partial U.S.-China trade deal announced last week as well as renewed Brexit uncertainty dented sentiment. In addition, investors adopted a cautious stance ahead of earnings results from the big U.S. banks this week.
China’s Shanghai Composite Index dropped 16.84 points, or 0.6 percent, to 2,991.05 after the release of inflation data. Hong Kong’s Hang Seng Index finished marginally lower at 26,503.93.
Chinese consumer price inflation accelerated to the highest since 2013 on food prices, while factory gate prices eased further in September as trade disputes with the U.S. and subdued demand weighed on the manufacturing sector, separate reports showed today.
Consumer price inflation rose more than expected to 3 percent in September from 2.8 percent in August. The expected rate was 2.9 percent.
Producer prices declined for the third straight month in September. Prices decreased 1.2 percent annually after falling 0.8 percent in August.
Meanwhile, Japanese shares rose notably as traders returned to their desks after a long holiday weekend. The Nikkei 225 Index jumped 408.34 points, or 1.9 percent, to 22,207.21, as local markets played catch-up with the rally in other Asian markets the previous day. The broader Topix closed 1.6 percent higher at 1,620.20.
Exporters Sony, Canon and Panasonic rose 1-2 percent. In the tech sector, Advantest rallied 2 percent and Tokyo Electron added 1.4 percent. Market heavyweight SoftBank advanced 2.5 percent and Fast Retailing soared 3.5 percent.
Australian shares edged up slightly, even as miners succumbed to selling pressure after the release of weak trade data from top consumer China. The benchmark S&P/ASX 200 Index inched up 9.40 points, or 0.1 percent, to 6,652, while the broader All Ordinaries Index ended up 5.40 points at 6,763.30.
The big four banks rose between 0.1 percent and 0.6 percent as the country’s prudential regulator outlined proposals to increase the amount of equity banks need to support investments in large subsidiaries.
On the other hand, mining heavyweights BHP Group and Rio Tinto fell over 1 percent, while smaller rival Fortescue Metals Group lost 3.5 percent.
Gold producer Newcrest Mining shed 0.7 percent after its board approved a A$685-million investment for Stage 1 of the Cadia expansion project, in New South Wales. Woodside Petroleum and Santos fell 1-2 percent after crude oil prices lost almost 2 percent overnight.
In economic news, members of the Reserve Bank of Australia’s monetary policy board said that lower interest rates would be required for an extended period in order to achieve employment and inflation goals, minutes from the central bank’s October 1 meeting revealed.
Seoul stocks edged higher, led by technology stocks. The benchmark Kospi rose 0.77 point to 2,068.17 ahead of the Bank of Korea’s policy meeting slated for Wednesday.
By Aduragbemi Omiyale
Nigeria slightly surpassed its quota set by the Organisation of the Petroleum Exporting Countries (OPEC) in July 2026.
In the month under review, the country produced about 1.57 million barrels of crude oil per day.
It was the third consecutive month Africa’s largest oil-producing nation was meeting its monthly quota, set to stabilise the price of the commodity on the global market by the oil cartel.
Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday showed that the 1.5 million barrels per day ceiling for Nigeria was surpassed last month.
The agency disclosed in a statement today that the country produced 1.505mbpd of crude oil and 0.17mbpd of condensate, bringing the combined daily production to 1.67mbpd.
In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.
Although Nigeria met its OPEC quota in the month of July, the statistics show that on a month-on-month basis, production fell by 4 per cent.
This was attributed to the decline in production due to operational challenges experienced at the Erha and Akpo fields, which impacted crude oil output during the period under review.
These disruptions constrained production volumes and contributed significantly to the overall reduction in national crude oil output.
Despite the challenges, production operations across most other producing assets remained relatively stable, with operators implementing measures aimed at maintaining production efficiency and minimising the impact of operational constraints, NUPRC stated.
By Aduragbemi Omiyale
The over 9 billion shares of Lasaco Assurance Plc issued to shareholders of the company via a rights issue have been listed on the Nigerian Exchange (NGX) Limited.
The equities were brought to Customs Street on Wednesday by the organisation, increasing its total issued and fully paid-up share capital.
Lasaco Assurance, which scaled the recapitalisation hurdle of the National Insurance Commission (NAICOM) in July 2026, raised fresh capital from the capital market to shore up its capital base.
The underwriting firm got about N18.5 billion from the rights issue, which involved the issuance of 9,236,321,546 ordinary shares at a unit price of N2.00.
The exercise was on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
Confirming the listing of the additional stocks of Lasaco Assurance today, the Head of Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, announced in a circular that, “Trading licence holders are hereby notified that an additional 9,236,321,546 ordinary shares of 50 Kobo each of Lasaco Assurance Plc were today, Wednesday, August 12, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 9,236,321,546 ordinary shares of 50 Kobo each at N2.00 per share on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
“With the listing of the additional 9,236,321,546 ordinary shares, the total issued and fully paid-up share capital of Lasaco Assurance Plc has now increased from 11,083,585,855 to 20,319,907,401 ordinary shares of 50 Kobo each.”
By Adedapo Adesanya
The Nigerian Insurers Association (NIA) has said the successful recapitalisation of the insurance industry will strengthen the sector’s ability to support financial stability and economic growth.
NIA Chairman, Mrs Ebelechukwu Nwachukwu, said a well-capitalised insurance industry would be better positioned to meet its obligations promptly, underwrite complex and large-scale risks and serve as a dependable pillar of the Nigerian economy.
She made the remarks while commending the National Insurance Commission (NAICOM) for its structured implementation of the new minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
Mrs Nwachukwu said NAICOM’s clear guidelines, systematic verification process, defined timelines and rigorous supervision had provided operators with a credible framework for navigating the recapitalisation exercise.
She described the outcome as a major milestone for the industry and congratulated the 43 insurance and reinsurance companies that have successfully met the prescribed minimum capital requirements.
According to her, the exercise represents “a major win not just for regulators and operators, but for policyholders, investors and the wider Nigerian economy.”
Mrs Nwachukwu said the association would continue to work with NAICOM and other stakeholders to consolidate the gains of the exercise, with emphasis on sustainable industry growth, stronger market conduct and improved consumer confidence.
The official also expressed solidarity with the eight companies still undergoing final verification and regulatory review, urging them to remain confident as NAICOM completes the process within the 14-day review period.
The NIA chairman assured policyholders and the wider business community that the insurance industry would emerge from the recapitalisation exercise stronger, more resilient and better positioned to contribute to Nigeria’s economic development.
