Economy
Asian Stocks Give up Early Gains to End Mixed
By Investors Hub
Asian stocks gave up early gains to end mixed on Wednesday despite strong gains on Wall Street overnight and a rally in oil prices amid warnings of western air strikes against Syria.
China’s Shanghai Composite index rose 17.76 points or 0.56 percent to 3,208.08 after PBOC Governor Yi Gang said China will allow more foreign investment in the financial sector over the next few months.
Meanwhile, China’s inflation eased more-than-expected in March as demand decreased after the Lunar New Year holidays, official data showed. Similarly, factory gate inflation weakened for the fifth consecutive month.
Consumer prices in China were up just 2.1 percent year-on-year in March, well beneath expectations for 2.6 percent and down sharply from 2.9 percent in February. Producer prices gained an annual 3.1 percent – also shy of forecasts for 3.3 percent and down from 3.7 percent in the previous month.
Hong Kong’s Hang Seng index was up half a percent in late trade, with energy and technology stocks faring well after oil prices soared and Facebook Chief Mark Zuckerberg apologized to U.S. lawmakers for a privacy scandal.
Japanese shares fell for the first time in three sessions amid reports that U.S. President Donald Trump is considering more aggressive strike in Syria within the next 48 hours. The Nikkei average shed 0.49 percent to end at 21,687.10, while the broader Topix index closed 0.38 percent lower at 1,725.30.
Retail stocks were among the worst hit after J.Front Retailing’s full-year profit forecast fell short of market expectations. Fast Retailing dropped 1.3 percent, J.Front Retailing lost 9.3 percent and Takashimaya declined 3.3 percent.
SoftBank shares surged 3.5 percent on the back of reports that the Sprint telecoms company it owns had resumed tentative merger talks with rival telecoms group T-Mobile US.
In economic releases, core machine orders in Japan advanced a seasonally adjusted 2.1 percent sequentially in February, the Cabinet Office said – coming in at 891.0 billion yen. That beat forecasts for a decline of 2.5 percent following the 8.2 percent spike in January.
Australian shares retreated as investors sold off defensive stocks and lapped up resource stocks on the back of strength in commodity prices after China promised lower tariffs.
The benchmark S&P/ASX 200 index dropped 28.30 points or 0.48 percent to 5,828.70 while the broader All Ordinaries index ended down 26 points or 0.44 percent at 5,925.80.
The big four banks fell between 1 percent and 1.4 percent while mining heavyweights BHP Billiton and Rio Tinto rallied 1.9 percent and 1.3 percent, respectively. South32 tumbled 2.3 percent after the company said it would appeal a Colombian Courts’ decision to pay damages to local communities.
Energy stocks Oil Search, Woodside Petroleum and Beach Energy climbed 1-2 percent as Brent crude futures rose above $71 a barrel after surging more than 3 percent on Tuesday amid warnings of western air strikes against Syria.
WorleyParsons shares closed 5 percent higher.
On the data front, consumer confidence in Australia ebbed in April, the latest survey from Westpac Bank revealed as its index sank 0.6 percent to a score of 102.4. That follows the 0.2 percent gain in March to a reading of 103.0.
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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