Economy
Asian Stock Markets Reverse Early Losses to Finish Higher
By Investors Hub
Asian stocks reversed early losses to end mostly higher on Friday after China eased restrictions on foreign investment in sectors including banking, automotive, heavy industry and agriculture amid scrutiny from its top trading partners.
The United States and the European Union have been complaining that Beijing limits foreign firms’ ability to enter the world’s second-largest economy.
China’s Shanghai Composite Index rallied 61.41 points or 2.2 percent to finish at 2,848.43, the largest single-day gain since August 2016, as authorities eased foreign investment curbs.
Speculation was also rife that the People’s Bank of China will lower the reserve ratios for some banks next week. Hong Kong’s Hang Seng Index jumped 457.79 points or 1.6 percent to 28,955.
Japanese shares rebounded from early losses to finish modestly higher as the yen fell out of favor and EU leaders reached a deal on migration after more than 12 hours of negotiations.
The Nikkei 225 Index edged up 34.12 points or 0.2 percent to 22,304.51, while the broader Topix Index closed 0.2 percent higher at 1,730.89.
Air-conditioner maker Fujitsu General jumped 3.7 percent after the rainy season ended in Kanto-Koshin region 22 days earlier than average.
Sharp Corp soared 15.2 percent after the company cancelled plans to raise as much as 200 billion yen in a public share sale, citing a volatile market due to U.S.-China trade tensions.
In economic news, Japan’s unemployment rate decreased to the lowest level in nearly twenty-six years in May, a government report showed. The seasonally adjusted jobless rate dropped to 2.2 percent from 2.5 percent in April.
Industrial production dropped a seasonally adjusted 0.2 percent month-over-month in May, reversing a 0.5 percent increase in April, another report showed. It was the first decline in four months.
Meanwhile, Australian shares fell modestly, dragged down by healthcare and energy stocks. The benchmark S&P/ASX 200 Index dropped 20.80 points or 0.3 percent to 6,194.60, while the broader All Ordinaries Index ended down 16.10 points or 0.3 percent at 6,289.70.
Healthcare stocks extended recent losses, with CSL and Sonic Healthcare ending down 1.1 percent and 1.6 percent, respectively. Energy stocks fell modestly on profit taking as oil prices dipped on concerns about trade frictions between the U.S. and other major economies.
Banks also closed mostly lower, with ANZ falling as much as 1.5 percent. Investment bank Macquarie Group lost 2.4 percent after hitting a record high in the previous session. Fortescue Metals Group shed 2.2 percent after Atlas Iron’s board unanimously backed Gina Rinehart’s A$390 million takeover bid for the company.
On the other hand, BHP Billiton rose 0.3 percent after it agreed to pay $158 million in remediation and compensation to the Brazilian non-profit foundation it set up in response to the 2015 Samarco mine dam collapse.
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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