Economy
Asian Equities Fall on Rising US Interest Rates
By Investors Hub
Asian stocks finished mostly lower on Thursday as investors fretted about slowing Chinese growth and the impact of rising U.S. interest rates.
Treasury yields edged higher and the dollar firmed up after minutes of the Federal Reserve’s latest monetary policy meeting showed broad consensus for further interest rate hikes on the back of robust economic growth and strong labor market conditions.
Chinese markets succumbed to heavy selling as core lending data disappointed and the yuan hit its weakest level in almost two years, testing the government’s ability to maintain financial stability amid slowing economic growth.
The benchmark Shanghai Composite Index plummeted 75.20 points or 2.9 percent to 2,486.42 amid fears that the trade dispute with the U.S. might escalate further. Hong Kong’s Hang Seng Index closed marginally lower at 25,454.55.
The U.S. Treasury Department has decided not to label China a currency manipulator, but Secretary Steve Mnuchin said China’s lack of transparency over its currency and recent weakness in the yuan are of “particular concern” for the U.S. and “pose major challenges to achieving fairer and more balanced trade.”
Separately, the Trump administration moved to withdraw from an international treaty on postal rates in a move aimed at pressuring Beijing.
Japanese shares fell in view of hawkish minutes from the U.S. Federal Reserve’s last policy meeting and weak exports data. Heavy selling in the Chinese markets also dented sentiment.
The Nikkei 225 Index fell 182.96 points or 0.8 percent to 22,658.16, while the broader Topix Index closed 0.5 percent lower at 1,704.64.
Hitachi Construction Machinery lost 2.5 percent, Fanuc slumped 4.1 percent and Murata manufacturing dropped 1.9 percent after data showed Japanese exports fell in September for the first time since 2016.
Rising U.S. yields helped lift financials, with Mitsubishi UFJ Financial Group gaining 0.4 percent and T&D Holdings adding 0.7 percent. Inpex and Japan Petroleum both fell around 2 percent after crude oil prices tumbled 3 percent overnight.
Meanwhile, Australian stocks rebounded from early losses to finish marginally higher after data showed the country’s unemployment rate dropped to 5 percent last month, the lowest level since April of 2012.
The benchmark S&P-ASX 200 Index and the broader All Ordinaries Index ended slightly higher at 5,942.40 and 6,050.10, respectively.
Woodside Petroleum shed 0.8 percent despite the company reporting a 25 percent increase in third quarter revenue. Likewise, Santos eased 0.3 percent despite reporting a nearly 23 percent increase in third quarter revenue.
The big four banks rose between 0.3 percent and half a percent. Mining giant Rio Tinto gained 0.4 percent and smaller rival Fortescue Metals Group soared 4.5 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.
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