Economy
Asian Stocks Close Mixed Thursday as China Hits Back at US
By Investors Hub
Asian stocks ended mixed on Thursday after China announced retaliatory tariffs against the United States, raising concerns over the escalation of the trade war between the world’s top two economies.
A slump in oil prices overnight and the U.S. announcement that it would soon impose new sanctions on Russia also kept investors nervous.
Chinese stocks rallied after a government report showed consumer inflation in the country rose an annual 2.1 percent in July, exceeding expectations for 2.0 percent and up from 1.9 percent in June.
The producer price index climbed 4.6 percent from last year – beating forecasts for 4.5 percent and down from 4.7 percent in the previous month.
The benchmark Shanghai Composite index jumped 50.31 points or 1.83 percent to 2,794.38 while Hong Kong’s Hang Seng index gained 0.88 percent to close at 28,607.30.
Japanese shares fell as machinery orders data disappointed and caution crept in ahead of U.S.-Japan trade talks. The Nikkei average slid 45.92 points or 0.20 percent to 22,598.39, while the broader Topix index closed 0.26 percent lower at 1,740.16.
Suzuki Motor slumped over 6 percent, Yamaha Motor tumbled 4.6 percent and Mazda Motor Corp dropped 1.3 percent after they have admitted using falsified emissions data to inspect their vehicles.
Pioneer Corp soared 12.7 percent after reports that the electronics manufacturer is seeking for financial assistance to improve its business. Chemical engineering firm Showa Denko rallied 9.5 percent after raising its profit outlook for the fiscal year through December.
On the data front, the total number of core machine orders in Japan tumbled a seasonally adjusted 8.8 percent on month in June, the Cabinet Office said today. That was well shy of forecasts for a drop of 1.0 percent after a 3.7 percent decline in May.
On a yearly basis, core machine orders added 0.3 percent – again missing expectations for a spike of 10.5 percent.
Australian shares rose notably, with both the S&P/ASX 200 and the All Ordinaries index rising around half a percent to close at 6,297.70 and 6,383.60, respectively.
Banking and insurance retailer Suncorp jumped 4.7 percent after it agreed to sell its life insurance division to Japanese insurer Dai-ichi Life Holdings.
The big four banks rose between 0.8 percent and 1.2 percent while oil & gas producer Santos lost 2.3 percent. Power producer AGL Energy dropped 4.1 percent despite the company posting robust results for 2017/18 because of accounting and hedging changes.
Casinos operator Crown soared 6.7 percent after it filed a lawsuit to stop the government approving developments that obstruct views from its new Sydney resort of the Sydney Opera House and Harbour Bridge.
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.
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