Economy
Asian Stocks Fall Broadly as Trade Optimism Wanes
By Investors Hub
Asian stocks fell broadly on Wednesday as hopes for a resolution to the U.S.-China trade dispute faded, offsetting comments by Fed Chairman Jerome Powell about expanding the central bank?s balance sheet.
Trade optimism waned after the Trump administration imposed visa restrictions on Chinese officials and expanded its trade blacklist to include some of China’s top artificial intelligence startups.
The Trump administration is also moving ahead with discussions around possible restrictions on capital flows into China, with a focus on investments made by U.S. government pension funds, Bloomberg reported.
Chinese stocks shrugged off weak global cues to end higher as investors remained optimistic about the prospects of more fiscal stimulus.
The benchmark Shanghai Composite index rose 11.29 points, or 0.4 percent, to 2,924.86, while Hong Kong’s Hang Seng Index shed 0.8 percent to close at 25,682.81.
Japanese shares declined as the latest U.S.-China tension soured investors’ mood. The Nikkei 225 Index slid 131.40 points, or 0.6 percent, to 21,456.38, while the broader Topix closed 0.3 percent lower at 1,581.70.
China-linked shares fell, with Fanuc down 1.6 percent and Komatsu losing 1 percent. Chip-related shares such as Screen Holdings, Advantest and Sumo lost 1-3 percent.
Nissan Motor gave up 1.1 percent after picking Senior Vice President Makoto Uchida as its next chief executive.
Australian shares retreated as heightened tensions between the United States and China sapped investors’ appetite for risk.
The benchmark S&P/ASX 200 Index ended the session down 46.70 points, or 0.7 percent, at 6,546.70, while the broader All Ordinaries Index dropped 46.70 points, or 0.7 percent to 6,667.
Banks ANZ, Commonwealth and Westpac fell between half a percent and 1.2 percent, while mining heavyweights BHP and Rio Tinto declined 1.4 percent and 0.9 percent, respectively.
Gold miners surged amid rising uncertainty surrounding the U.S.-China trade war and gloomy Brexit headlines. Evolution Mining advanced 1.5 percent and Newcrest added 1 percent.
Woodside Petroleum, Origin Energy, Oil Search and Santos dropped 1-2 percent as oil prices slipped for a third consecutive session on escalating tensions between the United States and China.
Meanwhile, telecom giant Telstra gained 0.9 percent on news it will shut down its 3G network in June 2024 to make room for its 4G and 5G coverage.
Shares of Clinuvel Pharmaceuticals spiked 60 percent after the U.S. FDA approved the use of the biopharmaceutical company’s drug Scenesse to treat a rare genetic disorder that induces skin damage from exposure to light.
Australia’s consumer confidence weakened to the lowest level in more than four years in October despite interest rate reductions, survey results from Westpac showed today.
The Westpac-Melbourne Institute Index of Consumer Sentiment dropped to 92.8 in October from 98.2 in September. This was the lowest score since July 2015.
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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