Economy
Asian Shares Fall as Trade War Fears Resurface
By Investors Hub
Asian stocks fell on Thursday as trade war fears resurfaced and the U.S. Federal Reserve sounded slightly more hawkish after raising interest rates for the second time this year.
Investors also adopted a cautious stance ahead of the European Central Bank’s monetary policy announcement later in the day amid expectations the central bank will signal a winding down of its vast bond-buying program by the end of this year.
China’s Shanghai Composite Index dipped 5.33 points or 0.2 percent to 3,044.46 after reports suggested the Trump administration is preparing to proceed with tariffs on Chinese goods.
Hong Kong’s Hang Seng Index fell 284.98 points or 0.9 percent to close at 30,440.17 after a slew of economic data from China disappointed investors.
Industrial production in China was up an annual 6.8 percent in May, the National Bureau of Statistics said. That was shy of expectations for 7.0 percent, which would have been unchanged from April.
Chinese retail sales grew an annual 8.5 percent in May – also missing expectations for 9.6 percent and down from 9.4 percent in the previous month.
Fixed asset investment gained 6.1 percent year-on-year, missing forecasts for 7.0 percent, which would have been unchanged from the April reading.
Japanese shares lost ground as a firmer yen on worries about global trade and a faster pace of interest rate hikes sapped investors’ appetite for risk.
The Nikkei 225 Index slumped 227.77 points or 1 percent to 22,738.61, while the broader Topix Index closed 0.9 percent lower at 1,783.89.
Toyota shed 0.9 percent after saying it will invest $1 billion in Asia ride-sharing company Grab. Honda Motor, Nissan, Panasonic and Sony declined 1-2 percent. Toshiba jumped 2.7 percent after announcing a share buyback.
Japanese industrial production climbed 0.5 percent month-over-month in April, faster than the 0.3 percent estimated earlier, final data from the Ministry of Economy, Trade and Industry showed. This marked the third successive monthly increase.
Australian shares fluctuated before closing slightly lower, dragged down by banks. The benchmark S&P/ASX 200 Index edged down 6.90 points or 0.1 percent to 6,016.60, while the broader All Ordinaries Index ended little changed with a negative bias.
The big four banks fell between half a percent and 1.1 percent ahead of ECB and BoJ meetings. Atlas Iron slumped 18.2 percent after the government said it doesn’t have priority rights to develop certain ship berths in Port Hedland.
Material stocks bucked the downward trend, with heavyweights BHP Billiton and Rio Tinto rising 0.4 percent and 0.6 percent, respectively.
Gold miner Newcrest advanced 1 percent to snap a four-session losing streak. Telstra Corp, Australia’s largest telecom company, jumped over 5 percent after an upgrade from J.P. Morgan.
DroneShield’s shares climbed almost 14 percent after the drone security firm won its biggest ever order for DroneGuns from an unspecified Middle Eastern country.
The unemployment rate in Australia came in at a seasonally adjusted 5.4 percent in May, a tad below expectations for 5.5 percent and down from 5.6 percent in April. The economy added 12,000 jobs last month, shy of expectations for 19,000 after an addition of 22,600 a month earlier.
By Aduragbemi Omiyale
Analysts at Coronation Research are projecting the inflation rate for February 2026 to moderate by 0.98 per cent to 14.12 per cent from the 15.10 per cent recorded in the preceding month.
The National Bureau of Statistics (NBS) is expected to release the inflation numbers today, Monday, March 16, 2026.
In a note released over the weekend, Coronation Research disclosed that the fall in the average prices of goods and services for last month would be impacted by a decline in the prices of food items.
“Our projection is supported by favourable base effects, easing food price pressures, and slight appreciation of the Naira,” a part of the report sighted by Business Post read.
The organisation revealed that the ongoing government interventions in the agricultural sector to improve food supply conditions are beginning to ease pressures within the food component of the consumer basket.
It further stated that “appreciation of the Naira to N1,363.40/1$ from N1,386.55/1$ in January is expected to reduce the cost of imported food items.”
However, it stressed that the ongoing US/Israel-Iran war was capable of reversing the deflationary trends because of the rising global energy prices.
“Also, the $200 million financing approved by the African Development Bank (AfDB) Group to scale up priority agricultural investments is expected to be disbursed in March, but its impact is likely to materialise in the medium to long term, with limited immediate effects on food supply and prices,” it said.
Coronation Research also disclosed that the recent energy market developments could keep core inflation sticky in the near term, as average Bonny Light crude oil prices rose to $72.33 per barrel in February 2026 from $68.04 per barrel in January.
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to order an investigation into the alleged N5.9 billion rebranding cost of the old Nigerian National Petroleum Corporation into the Nigerian National Petroleum Company (NNPC) Limited.
In a Sunday statement, SERAP urged Mr Tinubu to direct the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi, alongside anti-corruption agencies, to look into the matter.
The group further urged the President to direct the panel to identify and invite officials who authorised the payment and contractors who handled the project for questioning.
“We’ve urged President Bola Tinubu to urgently direct the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to promptly investigate the alleged expenditure of about ₦5.9 billion reportedly spent on the rebranding of the Nigerian National Petroleum Corporation (NNPC) to the Nigerian National Petroleum Company Limited (NNPCL).
“We also urged him to direct the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to identify the officials who approved and paid the amount, and the contractor(s) who collected the money, and to invite them for questioning,” the organisation stated.
SERAP further alleged that the NNPC reportedly paid N2.9 billion for incorporation expenses from petroleum product proceeds, while the National Petroleum Investment Management Services (NAPIMS) also charged N2.9 billion against crude oil revenue for the same purpose.
The group argued that the total cost was valued at about N5.9 billion, which was spent by the NNPCL for the rebranding.
“There ought to be full transparency and accountability regarding the reported ₦5.9 billion spent on rebranding NNPC to NNPCL.”
SERAP emphasised that Nigerians have the right to know who approved the expenditure, who received the money, and whether due process was followed.
“Any investigation into the rebranding project should determine whether the N5.9 billion represents value for money, lawful spending of public funds, and compliance with transparency and accountability requirements,” the statement concluded.
Business Post reports that NNPC became a limited liability company on July 1, 2022, under the Companies and Allied Matters Act (CAMA) in line with the implementation of the Petroleum Industry Act (PIA), which was signed into law on August 16, 2021, by late President Muhammadu Buhari.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the south for the fourth consecutive session after it shed 1.18 per cent on Friday, March 13.
The unlisted securities market recorded a loss despite closing without a price decliner, and ending with two price gainers led by Geo Fluids Plc, which gained 1o Kobo to sell at N3.10 per share compared with the previous day’s N3.00 per share. Industrial and General Insurance (IGI) Plc appreciated during the session by 2 Kobo to trade at 54 Kobo per unit versus Thursday’s closing price of 52 Kobo per unit.
When the market closed for the day, the market capitalisation lost N29.83 billion to close at N2.489 trillion compared with the N2.519 trillion it finished a day earlier, and the NASD Unlisted Security Index (NSI) crashed by 49.84 points to 4,160.46 points from 4,210.31 points.
Market activity improved yesterday, as the volume of transactions rose 179.5 per cent to 10.4 million units from 3.7 million units, but the value of trades declined by 68.4 per cent to N29.9 million from N95.0 million, while the number of deals weakened by 11.5 per cent to 46 deals from 52 deals.
Central Securities Clearing Systems (CSCS) Plc remained the most active stock by value on a year-to-date basis with 38.4 million units worth N2.4 billion, Okitipupa Plc followed with 6.4 million units traded at N1.1 billion, and FrieslandCampina Wamco Nigeria Plc transacted 6.3 million units for N584.3 million.
Resourcery Plc ended the trading session 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 valued at N504.5 million, and CSCS Plc with 38.4 million units worth N2.4 billion.
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