Economy
Asian Equities Finish Mixed as US-China Trade Deal Sway Investors Sentiment
By Investors Hub
Asian stocks ended on a mixed note on Tuesday as investors awaited concrete details of a possible interim U.S.-China trade deal.
Chances of an early trade deal brightened after U.S. President Donald Trump said he expected to sign a significant part of the deal ahead of schedule but did not specify an exact date.
The office of the U.S. Trade Representative said Monday that Washington would consider whether to extend certain tariff suspensions on $34 billion worth of imports from China that are set to expire on December 28 this year.
Investors also awaited a Federal Reserve interest rate decision this week for clues on the future path of U.S. interest rates.
Chinese shares fell despite Trump’s upbeat remarks about the prospects for a trade deal with China. The benchmark Shanghai Composite Index dropped 25.87 points, or 0.9 percent, to 2,954.18, while Hong Kong’s Hang Seng Index ended down 104.50 points, or 0.4 percent, at 26,786.76.
Japanese shares hit their highest level in more than a year after Trump said he hopes to sign a trade deal with China’s President Xi Jinping next month at a summit in Chile.
The Nikkei 225 Index climbed 106.86 points, or 0.5 percent, to 22,974.13 after hitting as high as 23,008.43 earlier in the day, the highest since October 11, 2018. The broader Topix closed 0.9 percent higher at 1,662.68.
Toyota Motor, Sony, Honda Motor and Nissan Motor rallied 1-2 percent as the yen traded marginally lower after the release of inflation data.
Japanese core consumer prices, which exclude volatile food prices, rose an annual 0.5 percent in October, staying well below the Bank of Japan’s elusive 2 percent target and keeping the central bank under pressure to ramp up stimulus.
Canon shed 0.8 percent after the company lowered its fiscal 2019 earnings outlook for the third time.
Market heavyweight SoftBank Group jumped 2.6 percent on reports that Saudi Arabia is discussing the possibility of investing more money into its second Vision Fund.
Australian markets fluctuated before closing on a flat note. The benchmark S&P/ASX 200 Index inched up 4.70 points, or 0.1 percent, to 6,745.40, while the broader All Ordinaries Index crept up 6 points, or 0.1 percent, to 6,848.50.
Mining heavyweights BHP and Rio Tinto surged more than 1 percent each. Energy stocks finished broadly lower after crude oil prices closed lower overnight to snap a four-day winning streak.
Bravura Solution soared 4.7 percent after the company said it would acquire FinoComp for a total consideration of $25 million.
Bega Cheese slumped 12.8 percent as the diary and grocery producer warned of weaker earnings in fiscal 2020 due to lower demand for its unbranded products and higher milk prices.
Seoul stocks ended marginally lower after survey data from the Bank of Korea showed that confidence among South Korean manufacturers is set to weaken in November.
The business survey index on business conditions in manufacturing rose one point to 72 in October, but the outlook for next month fell one point to 72.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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