Economy

Asian Shares Close Mixed amid Trade Worries

Published

8 years ago

10/09/2018

By Investors Hub

Asian stocks turned in a mixed performance on Monday amid trade worries after U.S. President Donald Trump threatened to slap tariffs on all of the Chinese goods imported into the United States and expressed displeasure about his country’s large trade deficit with Japan.

A report showed China’s trade surplus with the U.S. widened to a record in August, adding to the trade tensions.

While a strong U.S. jobs report supported the dollar, oil prices rose after data showed U.S. energy companies cut two oil rigs last week.

Chinese and Hong Kong shares fell sharply on fears of more U.S. tariffs after Trump threatened to impose tariffs on additional $267 billion worth of Chinese imports.

The benchmark Shanghai Composite Index tumbled 32.82 points or 1.2 percent to 2,669.48, while Hong Kong’s Hang Seng Index plunged 1.3 percent to end at 26,613.42.

On the data front, consumer prices in China were up 2.3 percent year-on- year in August, the National Bureau of Statistics said. That exceeded expectations for 2.1 percent, which would have been unchanged from the July reading.

The bureau also said that producer prices jumped an annual 4.1 percent. That also topped forecasts for 4.0 percent and was down from 4.6 percent in the previous month.

Meanwhile, Japanese shares snapped a six-day losing streak as upbeat revised GDP data and a slightly weaker yen helped investors shrug off trade worries.

Japan’s gross domestic product climbed an annual 3.0 percent in the second quarter of 2018, the Cabinet Office said. That beat forecasts for 2.6 percent and was up from the previous reading of 1.9 percent. On an annualized seasonally adjusted basis, GDP added 0.7 percent – unchanged and in line with expectations.

Another report revealed that Japan had a current account surplus of 2,009.7 billion yen in July, exceeding expectations for a surplus of 1,893.2 billion yen and up from 1,175.6 billion yen in June. The trade balance showed a deficit of 1.0 billion yen.

The Nikkei 225 Index rose 66.03 points or 0.3 percent to 22,373.09, while the broader Topix Index closed 0.2 percent higher at 1,687.61.

Lender Mitsubishi UFJ Financial rose 0.6 percent, insurer Dai-ichi Life rallied 2.4 percent and JapanPost Insurance advanced 2.3 percent as U.S. bond yields edged up on expectations for a September rate hike by the Federal Reserve.

Tech shares suffered heavy losses, with Advantest losing 2.4 percent and Screen Holdings declining 2.8 percent.

Australian markets fell for the eighth straight session, though stocks ended off their day’s lows in the wake of positive economic data from China. Both the S&P/ASX200 Index and the broader All Ordinaries Index finished marginally lower at 6,141.70 and 6,249.70, respectively.

Mining heavyweights BHP Billiton and Rio Tinto cut earlier losses after the release of Chinese consumer inflation and produce inflation data.

National Australia Bank shed 0.7 percent after announcing it won’t hike mortgage rates. ANZ and Westpac also closed modestly lower while Commonwealth Bank edged up 0.3 percent.

Explaurum jumped 42 percent after Ramelius Resources launched a hostile bid for the gold and base metals explorer. Primary Health Care advanced 1.8 percent after announcing the acquisition of seven clinics.

Economy

FrieslandCampina, Geo-Fluids Collapse NASD Exchange by 0.12%

Published

2 hours ago

17/03/2026

Adedapo Adesanya

By Adedapo Adesanya

The duo of FrieslandCampina Wamco Nigeria Plc and Geo-Fluids Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.12 per cent on Monday, March 16.

FrieslandCampina Wamco Nigeria Plc lost N1.45 during the session to sell at N123.55 per share versus the previous price of N125.00 per share, and Geo Fluids Plc depreciated by 5 Kobo to N3.05 per unit from N3.10 per unit.

The losses recorded by the two securities lowered the market capitalisation by N8.88 billion to N2.480 trillion from N2.489 trillion, and crashed the NASD Unlisted Security Index (NSI) by 14.86 points to 4,145.60 points from 4,160.46 points.

On the first trading day of the week, the value of securities transacted by investors went up by 10.8 per cent to N33.2 million from N29.9 million, but the volume of securities dipped 97.5 per cent to 265,610 units from 10.4 million units, and the number of deals decreased by 43.5 per cent to 26 deals from 46 deals.

At the close of trades, Central Securities Clearing System (CSCS) Plc was the most active stock by value on a year-to-date basis with 38.6 million units sold for N2.4 billion, followed by Okitipupa Plc with 6.4 million units traded for N1.2 billion, and FrieslandCampina Wamco Nigeria Plc with 6.5 million units worth N609.6 million.

Resourcery Plc closed the day as the most traded stock by volume on a year-to-date basis with 1.1 billion units valued at N415.6 million, trailed by Geo-Fluids Plc with 130.8 million units transacted for N504.5 million, and CSCS Plc with 38.6 million units exchanged for N2.4 billion.

Economy

Naira Gains N8.46 to Trade N1,357/$ at Official Market

Published

2 hours ago

17/03/2026

Adedapo Adesanya

By Adedapo Adesanya

The Naira opened the week stronger against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Monday, March 16, by N8.46 or 0.62 per cent to trade at N1,357.77/$1 compared with the previous session’s N1,366.23/$1.

In the same vein, the local currency appreciated against the Pound Sterling in the same market segment yesterday by N23.45 to quote at N1,789.54/£1 compared with last Friday’s value of N1,812.99/£1, and improved its value against the Euro by N9.72 to N1,558.31/€1 from N1,568.03/€1.

Similarly, the Naira gained N5 against the greenback in the parallel market during the trading session to sell for N1,395/$1 compared with the previous rate of N1,400/$1, and closed flat at the GTBank FX desk at N1,385/$1.

The pressure that piled on the domestic currency appeared to have eased, buoyed by higher oil prices, which have continued to bolster market sentiment.

A report by Coronation Merchant Bank Research said Brent crude prices advanced by 11.16 per cent week-on-week, rising from $91.00 per barrel to close at $101.16 per barrel amid escalating geopolitical tensions in the Middle East.

The bank noted that developments in the region heightened concerns about potential disruptions to global oil supply, increasing volatility in energy markets.

Nigeria recorded modest portfolio inflows as investors sought higher-yielding opportunities, but the inflows helped support liquidity in the FX market and contributed to the Naira’s recovery during the past week.

Also, Nigeria’s inflation cooled to 15.06 per cent in February 2026 from 15.10 per cent in January 2026, data from the National Bureau of Statistics (NBS) showed.

As for the cryptocurrency market, prices continued to weigh the tensions around the Strait of Hormuz — a critical oil shipping route between the Persian Gulf and global markets — appeared to ease slightly.

US President Donald Trump called on other nations to help secure the waterway, while some tankers reportedly have crossed the Strait, suggesting that traffic through the corridor has not been fully disrupted.

This weakened some coins, including Dogecoin (DOGE), which slumped by 1.7 per cent to $0.0998, and Cardano (ADA), which depreciated 1.6 per cent to $0.2832. Binance Coin (BNB) lost 1.5 per cent to sell for $674.25, TRON (TRX) declined by 0.6 per cent to $0.2964, and Solana (SOL) dropped 0.2 per cent to $93.66.

On the flip side, Ripple (XRP) jumped 2.2 per cent to $1.51, Ethereum (ETH) grew by 1.5 per cent to $2,302.08, and Bitcoin (BTC) appreciated by 0.1 per cent to $73,951.40, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.

Economy

NGX All-Share Index Crosses 200,000-Point Threshold After 1.55% Gain

Published

4 hours ago

17/03/2026

Dipo Olowookere

By Dipo Olowookere

The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited reached an all-time high of 201,474.89 points on Monday after adding 3,067.59 points or 1.55 per cent to its previous closing figures of 198,407.30 points.

Buying pressure in three of the five key sectors sustained the upward trend on Customs Street during the trading session, analysis of the market data revealed.

The industrial goods sector appreciated by 4.52 per cent, the banking index improved by 2.20 per cent, and the consumer goods space rose by 0.03 per cent.

However, the insurance sector experienced profit-taking, which crashed it by 0.43 per cent, and the energy counter lost 0.08 per cent due to sell-offs.

When the bourse ended for the day, the market capitalisation chalked up N1.969 trillion to settle at N129.330 trillion compared with last Friday’s M127.361 trillion.

BUA Cement led the advancers’ group yesterday after growing by 10.00 per cent to N297.00, Premier Paints jumped 9.79 per cent to N21.30, John Holt expanded by 9.52 per cent to N10.35, Guinea Insurance soared by 9.38 per cent to N1.40, and Fortis Global Insurance grew by 9.32 per cent to N1.29.

On the flip side, VFD Group led the laggards’ gang after it gave up 10.00 per cent to close at N11.25, Royal Exchange shed 9.63 per cent to settle at N1.69, Omatek depreciated by 9.62 per cent to N2.35, Sovereign Trust Insurance lost 9.00 per cent to quote at N1.92, and Regency Alliance slipped by 8.94 per cent to N1.12.

Yesterday, a total of 948.2 million stocks valued at N49.2 billion were traded in 72,735 deals compared with 591.0 million stocks worth N35.0 billion transacted in 53,066 deals in the preceding session, representing an improvement in the trading volume, value, and number of deals by 60.44 per cent, 40.57 per cent, and 37.07 per cent apiece.

The activity log was led by Sovereign Trust Insurance, which traded 72.6 million equities valued at N147.1 million, Access Holdings sold 69.9 million shares for N1.8 billion, First Holdco exchanged 67.0 million stocks worth N3.4 billion, Zenith Bank transacted 60.0 million equities valued at N6.0 billion, and Nigerian Breweries exchanged 55.0 million shares worth N4.0 billion.