Economy
Most Asian Shares Rise After US Govt Debt Yields Fall
By Investors Hub
Most Asian stocks rose on Friday after U.S. government debt yields fell from multi-year highs reached on Wednesday, helping ease worries about inflation and higher interest rates.
The dollar edged up against the yen on improved risk appetite and oil held onto overnight gains after an unexpected drawdown in U.S. crude inventories, while gold prices dipped on dollar strength and remained on track for their sharpest weekly drop in two-and-a-half months.
Japanese shares eked out modest gains as bond markets regained stability. The Nikkei 225 Index rose 156.34 points or 0.7 percent to 21,892.78, while the broader Topix Index closed 0.8 percent higher at 1,760.53.
Exporters Canon, Toyota Motor, Honda Motor and Panasonic rose between 0.6 percent and 1.4 percent as the dollar edged up against the yen and other currencies. Oil firm Inpex rallied 2.1 percent and Japan Petroleum rose 1.1 percent.
In economic news, the Ministry of Internal Affairs and Communications said that overall nationwide consumer prices in Japan climbed an annual 1.4 percent in January. That exceeded forecasts for 1.3 percent and was up from 1.0 percent in December.
Australian stocks extended gains for the third straight session, with mining and energy stocks leading the way higher after oil prices rose around 1.5 percent Thursday.
The benchmark S&P/ASX 200 Index climbed 48.90 points or 0.8 percent to 5,999.80, while the broader All Ordinaries Index advanced 47.50 points or 0.8 percent to 6,105.20.
Energy majors Beach Energy, Origin Energy, Oil Search and Woodside Petroleum rose between half a percent and 0.8 percent. Commonwealth Bank of Australia advanced 1.1 percent after it denied most of the claims against it alleging breaches of money laundering laws.
Mining giant BHP Billiton rallied 1.6 percent to extend gains for the second straight session as Chinese iron ore prices ticked higher. Rival Rio Tinto and Fortescue Metals Group gained 0.8 percent and 1.6 percent, respectively.
Gold miners Newcrest Mining and Evolution rose 1-2 percent after a modest increase in gold prices overnight. Shares of Accent Group, brand owner of The Athlete Foot, soared 18.5 percent after the company lifted its first-half profit by 19 percent.
Regis Healthcare climbed 8.4 percent despite the company posting lower half-year profits. Woolworths Group tumbled 2.6 percent despite the retail giant reporting a 38 percent jump in first-half profit.
China’s Shanghai Composite Index closed up 20.68 points or 0.6 percent at 3,289.02, while Hong Kong’s Hang Seng Index jumped 301.49 points or 1 percent to 31,267.17.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) is seeking a reduction in import duty exemptions, which rose to N34 trillion, limiting its ability to increase its revenue generation threshold.
The Comptroller-General of the Customs Service, Mr Adewale Adeniyi, disclosed that the value of import duty exemption certificate approvals increased to that level in 2025, describing the policy as one of the major factors restricting its revenue generation.
At an investigative session of the Senate Committee on Finance with revenue-generating agencies in Abuja on Monday, Mr Adeniyi explained that government fiscal policies have continued to impact the revenue-generating capacity of the Customs Service, both positively and negatively.
“The NCS would have generated significantly higher revenue over the years if not for government-approved import duty waivers and other external factors affecting collections,” he said.
He added that the Import Duty Exemption Certificate scheme, introduced in March 2020, accounted for about N34 trillion in approvals in 2025, with nearly 60 per cent covering duty-free importation of military hardware due to Nigeria’s prevailing security challenges.
Other government-backed duty waivers, he noted, covered the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment and medical supplies, industrial machinery and manufacturing inputs, as well as food import intervention programmes.
While acknowledging the impact of the waivers on Customs revenue, Mr Adeniyi argued that fiscal policy should not be assessed solely on the basis of revenue generation but also on its broader economic and social objectives.
He, however, urged the federal government to establish stronger monitoring mechanisms to ensure beneficiaries of duty waivers deliver the intended economic outcomes, including lower consumer prices, increased local production and improved healthcare access.
The committee also expressed displeasure over the absence of several heads of government agencies invited to the hearing, including the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Industrial Training Fund (ITF), and the Federal Medical Centre (FMC), Jabi.
The Chairman of the Senate Committee on Finance, Mr Sani Musa, warned that the affected chief executives must appear at the committee’s next sitting or face severe sanctions under the Senate’s rules.
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By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.40 per cent on Monday, July 13, buoyed by buying interest in 11 Plc, Central Securities Clearing System (CSCS) Plc and UBN Property Plc, which offset the profit-taking in Food Concepts Plc, the parent company of Chicken Republic.
11 Plc gained N20.69 to end at N227.64 per share compared with last Friday’s price of N206.95 per share, CSCS Plc grew by N1.83 to N91.48 per unit from N89.65 per unit, and UBN Property Plc added 1 Kobo to sell at N1.81 per share versus N1.80 per share.
On the flip side, Food Concepts Plc depreciated by 24 Kobo to close at N2.45 per unit, in contrast to the preceding session’s N2.69 per unit.
As a result, the market capitalisation increased by N9.2 billion to N2.587 trillion from N2.578 trillion, and the NASD Security Index (NSI) improved by 15.33 points to 4,311.67 points from 4,296.34 points.
Yesterday, the volume of securities traded by investors surged by 615.9 per cent to 9.1 million units from the previous 1.3 million units, and the value of securities rose by 997.1 per cent to N320.4 million from the preceding session’s N29.2 million, while the number of deals decreased by 12.5 per cent to 28 deals from last Friday’s 32 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 73.9 million units exchanged for N5.2 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
