Economy
Asian Shares Fall as Fears of Global Trade War Thickens
By Investors Hub
Asian stocks ended mostly lower on Monday as fears of a global trade war persisted and the prospect of a hung Parliament in Italy looked increasingly likely.
Chinese shares ended largely unchanged as Chinese leaders headed into an annual parliament meeting and a survey showed activity in China’s services sector cooled slightly last month. The Caixin services PMI dropped to 54.2 from 54.7 in January.
Meanwhile, China maintained its growth target for 2018, despite the economy surpassing the goal last year, as the government aims to contain corporate debt and rein in pollution.
Premier Li Keqiang set the growth target at ‘around 6.5 percent’ for 2018. This was unchanged from the last year’s target.
The benchmark Shanghai Composite index closed marginally higher at 3,256.53, while Hong Kong’s Hang Seng index plunged 697.06 points or 2.28 percent to 29,886.39.
Hong Kong’s private sector growth accelerated in February, the latest survey from Nikkei revealed today with a PMI score of 51.7, up from 51.1 in January.
Japanese shares hit a near five-month low as the safe-haven yen strengthened amid worries about a global trade war. The Nikkei average dropped 139.55 points or 0.66 percent to 21,042.09, the lowest level since mid-October. The broader Topix index closed 13.55 points or 0.79 percent lower at 1,694.79.
Steelmakers extended Friday’s losses as the EU prepared retaliatory measures against proposed U.S. tariffs. Kobe Steel declined 1.5 percent, Nippon Steel and Sumitomo Metal shed 1.8 percent and JFE Holdings lost 2.5 percent.
In economic news, the latest survey from Nikkei showed that the services sector in Japan continued to expand in February, albeit at a slightly slower pace, with a PMI score of 51.7, down from 51.9 in January.
Australian shares joined a global slide, with material companies and financials leading the decliners. The benchmark S&P/ASX 200 index fell 33.90 points or 0.57 percent to 5,895, while the broader All Ordinaries index ended down 32 points or 0.53 percent at 5,996.40.
Miners BHP Billiton and Rio Tinto shed 1.8 percent and 1.5 percent, respectively amid controversy over Donald Trump’s announcement of tariffs on steel and aluminum imports.
The big four banks fell between half a percent and 1.2 percent while energy majors Origin Energy, Oil Search and Santos ended down between 0.4 percent and 0.6 percent.
Retail Food Group plummeted as much as 36.5 percent after a series of pessimistic announcements. Job advertiser Seek advanced 1.9 percent after the company said it would buy News Corp.’s 13.75 percent stake in Seek Asia for A$157 million.
On the economic front, a slew of reports on Australian building approvals, job advertisements, company operating profits, inflation and services sector activity painted a mixed picture of the economy.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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