Economy
Asian Markets End Mostly Lower
By Investors Hub
Asian stocks ended mostly lower on Thursday as financial markets offered a muted reaction to the passage of major U.S. tax reform, which will lower tax rates for both businesses and individual Americans.
Japanese shares moved to the downside even as the dollar held near a one-week high against the yen, supported by an increase in U.S. bond yields.
The Nikkei 225 Index dipped 25.62 points or 0.11 percent to 22,866.10, led down by banks as the Bank of Japan left its monetary policy unchanged as widely expected, underscoring its conviction that a recovery in the world’s third largest economy was gathering momentum.
The broader Topix index closed 0.1 percent lower at 1,822.61, with banks Sumitomo Mitsui Financial and Mizuho Financial ending down over 1 percent each. Fast Retailing lost 1.4 percent after preliminary data showed Japanese supermarket sales dropped in November from a year ago.
Australian shares pulled back from near 10-year highs as the markets gave a relatively lukewarm response to the passage of the GOP’s tax plan in the U.S. Gains in the mining sector helped to limit overall losses to some extent.
The benchmark S&P/ASX 200 Index dropped 15.20 points or 0.3 percent to 6,060.40, while the broader All Ordinaries Index ended down 11.60 points or 0.2 percent at 6,156.30.
Banks ANZ, Commonwealth, NAB and Westpac fell between 0.6 percent and 0.9 percent. Firmer base metals prices helped lift miners, with BHP Billiton rallying 1.4 percent and Rio Tinto climbing 1 percent.
Oil and gas producer AWE tumbled 2.8 percent after it agreed to a revised takeover bid from mining services provider Mineral Resources. BlueScope Steel soared 4.3 percent after lifting its first-half guidance.
Seoul stocks plunged to a nearly three-month low after a late sell-off by foreign investors amid worries over a potential conflict with North Korea and on apprehension over fourth quarter earnings.
The benchmark Kospi slumped 42.54 points or 1.7 percent to 2,429.83, marking its biggest single-day loss since July. The index was dragged down by tech and chemical stocks. Tech heavyweights Samsung Electronics and SK Hynix lost 3-4 percent.
On the other hand, Chinese stocks rose after Xinhua news agency said the country is committed to maintaining economic growth in a reasonable range next year.
The benchmark Shanghai Composite Index climbed 13.08 points or 0.4 percent to 3,300.68, and Hong Kong’s Hang Seng Index advanced 132.97 points or 0.5 percent to 29,367.06.
Economy
46 Stocks Gain Weight, 53 Equities Lose on NGX in One Week
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited was bullish last week despite investors’ mood swing, triggered by happenings in the country and across the globe, especially the Middle East crisis.
The All-Share Index (ASI) and the market capitalisation appreciated week-on-week by 3.94 per cent to 225,722.49 points and N145.335 trillion, respectively.
Similarly, all other indices finished higher with the exception of the growth and commodity indices, which depreciated by 0.02 per cent and 0.41 per cent, respectively, while the sovereign bond index closed flat.
A look at the price changes of shares in the five-day trading week showed that
46 stocks gained weight versus 61 stocks of the previous week, 53 equities shed weight compared with 36 equities a week earlier, and 47 shares closed flat, in contrast to 49 shares of the preceding week.
UAC Nigeria led the gainers’ chart after it chalked up 42.00 per cent to trade at N142.00, Union Dicon appreciated by 32.73 per cent to N21.90, NASCON expanded by 32.63 per cent to N206.90, Trans-Nationwide Express rose by 30.58 per cent to N7.90, and Zichis improved by 25.71 per cent to N15.60.
On the flip side, Infinity Trust Mortgage Bank led the losers’ group after it gave up 50.79 per cent to close at N9.35, Abbey Mortgage Bank declined by 33.33 per cent to N5.40, Guinea Insurance slipped by 15.20 per cent to N1.06, Stanbic IBTC lost 13.82 per cent to settle at N162.50, and Living Trust Mortgage Bank slumped by 10.98 per cent to N3.65.
As for the activity log, Customs Street recorded a turnover of 3.805 billion shares worth N213.955 billion in 297,202 deals in the week compared with 3.588 billion shares valued at N195.313 billion transacted in 254,553 deals in the previous week.
Financial stocks led the activity chart with 2.739 billion units sold for N106.269 billion in 135,101 deals, contributing 71.99 per cent and 49.67 per cent to the total trading volume and value, respectively.
Services equities traded 212.324 million units worth N4.024 billion in 17,042 deals, and consumer goods shares exchanged 180.076 million units valued at N13.269 billion in 32,457 deals.
Access Holdings, UBA, and First Holdco were the busiest with 814.060 million units traded for N39.032 billion in 37,195 deals, contributing 21.40 per cent and 18.24 per cent to the total equity turnover volume and value, respectively.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
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