Economy
Asian Shares Appreciate Amidst Weak Economic Data
By Investors Hub
Asian stocks ended mostly higher on Monday as weak economic data from the U.S. and China raised hopes of further stimulus from global central banks.
Data released Friday showed weaker than expected U.S. jobs growth in the month of August, while data from China showed that the country’s exports unexpectedly fell during the month.
Buoying market confidence were expectations that the European Central Bank would also cut interest rates on Thursday to boost growth.
Chinese stocks advanced as the country’s central bank pumped 120 billion yuan (about $16.94 billion) into the financial system to shore up the flagging economy.
The benchmark Shanghai Composite Index gained 25.14 points, or 0.8 percent, to close at 3,024.74, although Hong Kong’s Hang Seng Index ended marginally lower at 26,681.40.
Investors shrugged off official data showing that Chinese exports unexpectedly decreased in August amid the ongoing trade dispute with the U.S. administration.
In dollar terms, exports decreased 1 percent on a yearly basis in August, confounding expectations for an increase of 2.1 percent. At the same time, imports declined 5.6 percent, slower than the expected fall of 6.3 percent.
As a result, the trade balance showed a surplus of $34.8 billion in August versus the $42.8 billion surplus forecast by economists.
Japanese shares hit a 5-1/2-week high on hopes that central banks in some of the world’s largest economies would deploy new monetary stimulus to stave off a brewing global recession.
The Nikkei 225 Index rose 118.85 points, or 0.6 percent, to 21,318.42, its highest closing level since August 2, while the broader Topix Index closed 0.9 percent higher at 1,551.11.
Nissan Motor shares edged down slightly on a Nikkei report that Nissan CEO Hiroto Saikawa has expressed his intention to step down.
On the economic front, the Ministry of Finance said that Japan had a current account surplus of 1,999.9 billion yen in July, down 1.3 percent from last year. That was shy of expectations for a surplus of 2,046 billion yen and up from 1,211.2 billion yen in June.
The trade balance showed a deficit of 74.5 billion yen, shy of expectations for a deficit of 24.0 billion yen and down from the 759.3-billion-yen surplus in the previous month.
Japan’s economy grew an annualized 1.3 percent in the April-June quarter, weaker than the preliminary reading for 1.8 percent annualized growth on the back of softer capital spending, Cabinet Office data showed.
Australian markets fluctuated before ending roughly flat. Both the benchmark S&P/ASX 200 Index and the broader All Ordinaries Index closed marginally higher at 6,648 and 6,760.10, respectively.
The big four banks rose between 0.3 percent and 1 percent on expectations of further policy easing by the U.S. Federal Reserve and the European Central Bank. Investors are also betting that Australia’s central bank will cut interest rates more steeply than previously thought.
Mining and energy stocks ended on a subdued note as investors digested new data out of China showing that exports unexpectedly fell in August with a large contraction for shipments to the United States. Gold miners Evolution and Newcrest Mining dropped 2-3 percent as gold prices fell on improved risk appetite.
Australia’s mortgage approvals increased more-than-expected in July, figures from the Australian Bureau of Statistics showed today. The number of owner occupier loans increased 4.2 percent, much larger than the expected growth of 1.5 percent.
Seoul stocks extended gains for the fourth straight session on hopes the European Central Bank will announce new stimulus measures during its meeting slated for Thursday. Traders also remained optimistic about the upcoming U.S.-China trade talks.
The benchmark Kospi climbed 10.42 points, or 0.5 percent, to finish at 2,019.55. Market heavyweight Samsung Electronics rose 1.3 percent, while chipmaker SK Hynix rallied 2.9 percent.
Meanwhile, logistics firm Hyundai Glovis declined 1.6 percent on reports its ship accidentally tilted sideways off the east coast of the United States.
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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