Economy
Asian Stock Markets Extend Rally Friday
By Investors Hub
Asian stocks rose on Friday to extend gains from the previous session after separate surveys showed U.S. private payrolls and the services industry rebounding last month.
News that U.S.-China trade talks were back on the table also supported sentiment ahead of the release of U.S. jobs data for August later in the day.
Chinese stocks rose as Beijing continued to emphasize support for the economy. The benchmark Shanghai Composite Index climbed 13.74 points, or 0.5 percent, to 2,999.60 and ended the week up 3.9 percent, marking its best weekly gain since late June.
“(We) will use both broad and targeted RRR cuts in a timely manner as tools to guide financial institutions to guide more funds into inclusive finance, and ramp up support for the real economy,” China’s cabinet said in a meeting on Wednesday.
Hong Kong’s Hang Seng Index ended up 175.23 points, or 0.7 percent, at 26,690.76 despite global rating agency Fitch Ratings downgrading Hong Kong’s long-term foreign currency issuer default rating.
The rating agency observed that ongoing demonstrations have done long-lasting damage to international perceptions about the effectiveness of Hong Kong’s governance system and rule of law.
Japanese shares closed higher for the fourth straight day as the yen retreated against the dollar on the back of upbeat U.S. data and amid comments from Bank of Japan Governor Haruhiko Kuroda suggesting that cutting interest rates further into the negative zone is always an option.
The Nikkei 225 Index rose 113.63 points, or 0.5 percent, to 21,199.57, while the broader Topix closed 0.2 percent higher at 1,537.10.
Honda Motor jumped 3 percent and Panasonic gained 1.8 percent as the dollar climbed to a one-month high against the yen. Market heavyweight SoftBank declined 2.7 percent, while Fast Retailing rose 1.8 percent.
Daiwa Securities rose 0.9 percent after it announced a capital alliance with credit card company Credit Saison. Shares of the latter rallied 2.2 percent.
Rakuten slumped 5.2 percent on a Nikkei report that the e-commerce group will delay the commercial launch of its wireless carrier service by six months due to slow progress in building the network.
On the data front, a government report revealed that average household spending in Japan rose an annual 0.8 percent in July, matching expectations.
Australian shares eked out modest gains amid signs of a slight thaw in U.S.-China relations. The benchmark S&P/ASX 200 Index rose 34.10 points, or 0.5 percent, to 6,647.30, while the broader All Ordinaries Index ended up 31.90 points, or 0.5 percent, at 6,752.70.
Tech stocks paced the gainers after the Nasdaq closed up above 8,000 overnight. Afterpay Touch soared 4.1 percent and Computershare jumped 3.2 percent.
Rare earths producer Lynas Corp added 2.9 percent after it signed a pact with a city in Western Australia to explore a potential initial ore processing site.
Mining giants BHP and Rio Tinto rose 0.7 percent and 0.4 percent, respectively, while smaller rival Fortescue Metals Group gained 1.7 percent after completing a $600 million bond offering. The big four banks rose between 0.4 percent and 0.9 percent.
Gold miners Evolution, Newcrest, Northern Star, Regis Resources and Saracen Mineral Holdings lost 2-5 percent as gold fell its most in a day for 2019 on news that the U.S. and China plan to hold talks next month.
In economic news, investors shrugged off survey data showing that the construction sector in Australia continued to contract in August, albeit at a slower pace.
Seoul stocks extended gains for the third day as trade concerns abated and solid U.S. data helped ease global growth worries. The benchmark Kospi edged up 4.38 points, or 0.2 percent, to close at 2,009.13. Technology firms, financials and shipbuilders paced the gainers.
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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