Economy
Asian Stocks Close Mixed on Lingering US-China Trade Tensions
By Investors Hub
Asian stocks ended mixed on Friday as continued uncertainty over Brexit and lingering U.S.-China trade tensions kept underlying sentiment cautious going into the weekend.
Chinese stocks advanced after reports Beijing will request the cancellation of some planned and existing U.S. tariffs on Chinese imports in exchange for buying more U.S. agricultural products.
The benchmark Shanghai Composite Index climbed 14.01 points, or 0.5 percent, to 2,954.93 ahead of high-level trade talks later in the day. Hong Kong’s Hang Seng Index dropped 0.5 percent to 26,667.39.
Japanese shares hit a fresh one-year high as semiconductor-related stocks surged after the release of some positive earnings from overseas tech companies.
Underlying sentiment remained somewhat cautious after Japan’s Trade Minister Isshu Sugawara resigned following allegations of election law violations.
The Nikkei 225 Index inched up 49.21 points, or 0.2 percent, to 22,799.81, its highest closing level since October of last year. The broader Topix closed 0.3 percent higher at 1,648.44, its highest closing level in 10-1/2 months.
Tokyo Electron jumped 2.6 percent and Screen Holdings added 2.6 percent after chipmaker Intel beat third-quarter earnings expectations and raised its full-year revenue forecast.
Disco, a precision tools maker for the semiconductor production industry, soared 11.6 percent. Eisai jumped 8.2 percent to extend strong gains from the previous two sessions.
SoftBank dropped 1.2 percent on a Bloomberg report the company is planning to write down at least $5 billion to account for a plunge in the value of some of its biggest holdings, such as WeWork and Uber Technologies.
Australian markets rose notably, led by technology and healthcare stocks. The benchmark S&P ASX 200 Index climbed 45.60 points, or 0.7 percent, to 6,739.20, while the broader All Ordinaries Index ended up 44.30 points, or 0.7 percent, at 6,841.
Medical equipment company Resmed soared 11 percent after its first quarter earnings topped forecasts. Biotechnology firm CSL advanced 1.6 percent and hearing device maker Cochlear rallied 2.6 percent.
Gold miner Newcrest rose 1.3 percent as bullion prices hit a fresh two-week high after the release of weak U.S. economic data.
Mining heavyweight Rio Tinto rose half a percent and Fortescue Metals Group gained 0.8 percent, tracking strength in iron ore and copper prices. Tech stocks followed their U.S. peers higher, with Afterpay Touch Group rising 1 percent.
South Korea’s Kospi inched up 0.1 percent to 2,087.89 after survey results from the Bank of Korea showed the country’s consumer confidence strengthened to a six-month high in October.
The consumer sentiment index came in at 98.6 in October versus 96.9 in September. This was the highest score since April.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
