Economy
Asian Stocks Extend Losses Amid Trade Worries
By Investors Hub
Asian stocks moved mostly lower on Friday to extend recent losses as another round of U.S. tariffs on China loomed and investors looked ahead to the U.S. Labor Department?s August jobs report for clues to central bank rate hikes.
Chinese shares closed modestly higher in cautious trading, as a deadline for public comment on fresh U.S. tariffs expired. The benchmark Shanghai Composite Index rose 10.71 points or 0.4 percent to 2,702.30. Hong Kong’s Hang Seng Index closed marginally lower at 26,973.47.
Japanese shares closed lower for the sixth straight session and the yen strengthened against the dollar as investors awaited the U.S. tariff decision and the outcome of U.S.-Canada trade talks.
Sentiment was also dented after U.S. President Trump reportedly told a columnist for the Wall Street Journal that he was ?still bothered by the terms of U.S. trade with Japan.?
The benchmark Nikkei 225 Index tumbled 180.88 points or 0.8 percent to 22,307.06, a 2-1/2-week low. For the week, the Nikkei lost 2.4 percent to post its biggest weekly drop since mid-March. The broader Topix Index closed 0.5 percent lower at 1,684.31.
Exporters saw widespread declines, with Toyota Motor, Panasonic, Canon and Kyocera Corp losing 1-4 percent. Tech stocks such as Sumco Corp, Tokyo Electron and Advantest plunged 5-7 percent.
On the data front, a government report showed that average household spending in Japan rose 0.1 percent year-on-year year in July, coming in at 283,387 yen. That beat expectations for a decline of 0.9 percent following the 1.2 percent drop in June.
Australian markets ended lower as financial stocks extended losses for a seventh straight session and an overnight drop in oil prices pulled energy stocks lower.
The benchmark S&P/ASX 200 Index slid 16.60 points or 0.3 percent to 6,143.80, while the broader All Ordinaries Index ended down 15.50 points or 0.3 percent at 6,252.30.
Banks ANZ, NAB and Westpac slid between 0.1 percent and half a percent on concerns that rising interest rates could stifle housing demand. Alumina dropped 1.1 percent after workers at Alco’s alumina and bauxite operations in Western Australia rejected a proposed labor agreement.
Woodside Petroleum, Beach Energy and Oil Search tumbled 1-2 percent after oil prices fell more than 1 percent on Thursday. Meanwhile, Domino?s Pizza soared 4.5 percent amid accusations that it is underpaying employees.
In economic news, the construction sector in Australia continued to expand in August, albeit at a slower pace, the latest survey from the Australian Industry Group revealed.
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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