Economy
Asian Stock Markets Trade Mixed as Investors Await Cues from G-7 Summit
By Investors Hub
Asian stocks ended on a mixed note Tuesday as weak commodity prices pulled down resource stocks and investors waited for cues from the G-7 summit in Canada later this week as well the June 12th summit in Singapore between U.S. President Donald Trump and North Korean leader Kim Jong Un.
Gold held steady after three sessions of declines and the dollar held near a two-week high against the yen, while oil edged higher after falling nearly 2 percent in the previous session on concerns over growing U.S. production and expectations of higher OPEC supplies.
Chinese shares rose after data showed activity in China’s service sector expanded at a steady pace in May. The Caixin Services PMI stood at 52.9, matching expectations and unchanged from the previous month. The benchmark Shanghai Composite Index gained 23.22 points or 0.8 percent to end at 3,114.41.
Hong Kong’s Hang Seng Index rose 95.47 points or 0.3 percent to 31,093.45 despite the Nikkei PMI score for the private sector coming in at 47.8 in May, down from 49.1 in April.
Japanese shares eked out modest gains as the yen edged lower against the dollar and data on service sector activity and household spending painted a mixed picture of the economy. The Nikkei 225 Index inched up 63.60 points or 0.3 percent to 22,539.54, while the broader Topix Index finished marginally higher at 1,774.96.
Tech shares followed their U.S. peers higher, with Tokyo Electron and Advantest ending up more than 1 percent each. Japan Communications soared 7.3 percent after Japan’s financial watchdog said it would support a fintech experiment project by a consortium including the company.
Sharp Corp. lost 4.1 percent on reports that it is in talks to finalize a deal to buy Toshiba Corp’s personal computer business for around 5 billion yen.
Meanwhile, Australian shares closed lower as iron ore and oil prices fell and the Reserve Bank of Australia left interest rates unchanged at a historic low of 1.5 percent for the 20th consecutive meeting, citing sluggish wage growth and tepid inflation.
The service sector in Australia continued to expand in May and at an accelerated pace, the latest survey from the Australian Industry Group revealed with a Performance of Service Index score of 59.0, up from 55.2 in April.
The benchmark S&P/ASX 200 Index dropped 30.60 points or 0.5 percent to 5,994.90, while the All Ordinaries Index ended down 30.10 points or 0.5 percent at 6,108.50.
Commonwealth Bank rose 1 percent to extend Monday’s gains after settling a civil lawsuit. The other three big banks fell between 0.1 percent and 0.3 percent.
The overnight fall in oil prices weighed on the energy sector, with Oil Search, Santos and Origin Energy losing 1-2 percent. Miners BHP Billiton, Rio Tinto and Fortescue Metals Group dropped more than 1 percent each.
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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