Economy
Asian Equities Finish Mixed on Renewed Trade Tensions
By Investors Hub
Asian stocks ended mixed on Tuesday amid renewed geopolitical and trade tensions after China accused the U.S. of fueling cybersecurity fears.
The Chinese government on Monday accused the U.S. of attempting to curtail its technology development by putting pressure on allies to shun networks supplied by Huawei Technologies.
Huawei founder Ren Zhengfei told the BBC that the arrest of his daughter and chief financial officer of the company, Meng Wanzhou, is “politically motivated.”
Chinese shares ended roughly flat as investors awaited the outcome of a new round of talks between the U.S. and China taking place in Washington.
The benchmark Shanghai Composite Index finished inched up 1.29 points or 0.1 percent to 2,755.65, although Hong Kong’s Hang Seng Index dropped 118.88 points or 0.4 percent to 28,228.13.
Japanese shares hit fresh two-month highs, with defensive stocks rising as trade talks between the U.S. and China continue in Washington.
The Nikkei 225 Index crept up 20.80 points or 0.1 percent to 21,302.65, its highest close since mid-December. The broader Topix closed 0.3 percent higher at 1,606.52, the highest level in two months.
Chubu Electric Power, Tokyo Gas and East Japan Railway rose 2-3 percent. Honda Motor gained 0.4 percent on reports it plans to announce the closure of its Swindon car plant in 2022, with the loss of about 3,500 jobs.
Meanwhile, SoftBank Group plummeted 3.3 percent on a Wall Street Journal report that its key investors were unhappy with the high valuation of its flagship Vision Fund.
Australian markets ended solidly higher as gains in the financial sector helped offset disappointing earnings reports.
The benchmark S&P/ASX 200 Index rose 17.10 points or 0.3 percent to 6,106.90, while the broader All Ordinaries Index ended up 13.50 points or 0.2 percent at 6,184.20.
Lender ANZ jumped 2.3 percent after the lender’s chief executive admitted the bank might have been too cautious in its home lending decisions. The other three banks rose between 1 percent and 1.7 percent.
Wealth manager IOOF Holdings soared 16.4 percent after it posted a 5.0 percent increase in half-yearly underlying profit.
On the flip side, vitamin maker Blackmores plunged 25 percent after the company said it was reviewing its investment approach in China amid a general softening of consumer sentiment.
Hearing implant maker Cochlear slumped 8.1 percent after the company said it was facing increased competition in the U.S. and Germany.
Oil & gas producer Oil Search also dropped 1.5 percent after its annual profit missed estimates.
Seven West Media plunged 8 percent and Coles Group fell over 4 percent on disappointing half-year results.
Seoul stocks fluctuated in a narrow range before ending modestly lower after data showed the country’s export prices fell for the third consecutive month to reach a 27-month low in January. The benchmark Kospi ended down 5.26 points or 0.2 percent at 2,205.63.
By Dipo Olowookere
A total of 12.153 billion shares worth N176.058 billion exchanged hands in 224,146 deals last week on the floor of the Nigerian Exchange (NGX) Limited compared with the 5.359 billion shares valued at N139.053 billion traded in 261,869 deals in the preceding week.
The surge in activity level was triggered by large-ticket transactions in Fortis Global Insurance, Cornerstone Insurance, and Consolidated Hallmark, accounting for 9.488 billion shares worth N36.219 billion in 1,781 deals, contributing 78.07 per cent and 20.57 per cent to the total equity turnover volume and value, respectively.
Analysis showed that the Financial Services space accounted for 11.212 billion shares valued at N88.991 billion in 102,246 deals, contributing 92.25 per cent and 50.55 per cent to the total trading volume and value, respectively.
The ICT sector traded 246.127 million shares worth N51.605 billion in 27,169 deals, and the Services industry transacted 198.195 million shares worth N1.995 billion in 13,747 deals.
In the week, 26 equities gained weight as in the previous week, while 59 equities shed weight versus 63 equities a week earlier, and 62 equities remained unchanged versus 58 equities in the previous week.
Trans-Nationwide Express chalked up 32.09 per cent to trade at N2.84, International Energy Insurance rose by 31.68 per cent to N5.32, Sovereign Trust Insurance expanded by 13.77 per cent to N1.90, Chams grew by 12.25 per cent to N4.58, and CWG increased by 9.74 per cent to N21.40.
On the flip side, AVA Capital lost 34.55 per cent to close at N7.20, Unilever Nigeria declined by 18.94 per cent to N118.30, Zichis depreciated by 15.08 per cent to N18.30, Thomas Wyatt slipped by 14.33 per cent to N2.75, and Dangote Sugar weakened by 11.58 per cent to N64.55.
Business Post reports that Customs Street was under selling pressure last week, depleting the All-Share Index (ASI) by 1.20 per cent to 242,619.20 points and cutting the market capitalisation by 1.19 per cent to N156.624 trillion.
In the same vein, all other indices finished lower while the sovereign bond index was flat.
By Aduragbemi Omiyale
FGN bonds worth N1.1 trillion would be offered for sale to investors by the Debt Management Office (DMO) today, Monday, August 17, 2026.
The debt instruments would be sold through a primary market auction in three tenors: 10, 15, and 20 years. They are all re-opening notes, meaning they have been issued before and do not have the full term.
According to a circular from the debt office,
Business Post reports that the DMO is selling N250 billion worth of the 10-year note with a coupon of 22.60 per cent, while the N750 billion worth of the 15-year paper with a coupon of 15.45 per cent is to be auctioned, and N100 billion worth of the 20-year instrument with a coupon of 16.2499 per cent is on sale today.
To subscribe to the bonds, investors are required to pay N1,000 per unit, subject to a minimum subscription of N50 million and in multiples of N1,000 thereafter. The notes can be purchased through primary dealer market makers, which are the main commercial banks and others.
It was stated that successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument because the papers are reopening, as their coupons (interest) are already set.
Bondholders will receive their interest payment twice a year, with the bullet repayment on the maturity date.
The FGN bond qualifies as securities in which trustees can invest under the Trustee Investment Act. It also qualifies as government securities for tax exemption and can be used as liquid assets for liquidity ratio calculation for banks.
After the exercise today, the bond will be listed on the Nigerian Exchange (NGX) Limited and the FMDQ Securities Exchange to allow for trading in the secondary market, where it can be liquidated before maturity.
The FGN bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria.
By Aduragbemi Omiyale
Analysts at Coronation Asset Management have predicted that the July 2026 inflation rate should come at 15.80 per cent, lower than the 15.91 per cent recorded in June 2026.
The National Bureau of Statistics (NBS) is expected to release the actual rate today, Monday, August 17.
Coronation explained that it projected a pullback in the rate because of “three primary forces: a fresh energy price shock stemming from renewed Strait of Hormuz hostilities and a domestic refinery pricing disruption, seasonal harvest-related relief on food prices, and continued relative exchange rate stability.”
The organisation noted that the disinflation trend in the first half of the year remained last month, with the fuel price shock denting the pace of improvement rather than reversing it.
Regarding energy prices, Coronation reported that prices were stable in July, although this coincided with Dangote Refinery’s brief switch to dollar-denominated PMS pricing between July 13 and 22, which sharply reset ex-depot prices higher before naira-based sales resumed at N1,215 per litre following government intervention.
As for the exchange rate, it was also stable last month between N1,362/$1 and N1,383/$1 at the official market.
However, Coronation stressed that the month-on-month inflation may stay marginally firmer into August as the fuel price shock continues to pass through transport, logistics and services pricing, before the year-on-year rate resumes a steadier easing bias in September–October, conditional on Hormuz tensions not escalating further and Dangote Refinery maintaining naira-based pricing.
But it warned that a renewed dollar-pricing episode or a sustained Brent move above $95 per barrel would risk pushing the year-on-year print back toward 16.5 per cent to 17.0 per cent, while a durable de-escalation could see it drift toward 15.0 per cent to 15.3 per cent by October.
“For policy determination, this reinforces our view that the resumption of MPC rate cuts is unlikely before Q4 2026 at the earliest. The MPR has held at 26.50 per cent since February, and we expect the committee to maintain that stance through its next meeting, with any easing conditional on both core inflation turning over and energy-driven cost pressures visibly fading.
“We continue to favour the front end of the curve (1Y T-Bills) over 5–10-year bond instruments, where investors positioning for an early start to a sustained easing cycle may need to defer that thesis further,” their analysts stated.
