Economy
Asian Stocks Rebound on Trump’s Comments
By Investors Hub
Asian stocks rebounded from a 3-1/2-month low on Wednesday after U.S. President Donald Trump downplayed the scope of the trade war with China and said dialogue would continue. Sentiment was also boosted by hopes of Beijing unveiling more stimulus.
Chinese shares posted strong gains as weak data reinforced expectations that the government will launch stimulus measures to support the economy.
The benchmark Shanghai Composite Index jumped 55.07 points or 1.9 percent to 2,938.68, while Hong Kong’s Hang Seng Index climbed 146.69 points or 0.5 percent to 28,268.71.
Chinese industrial production and retail sales growth eased more than expected in April, suggesting weak economic activity at the start of second quarter.
Industrial production advanced 5.4 percent year-on-year in April following March’s 8.5 percent spike. The growth rate was forecast to slow moderately to 6.5 percent.
Likewise, annual growth in retail sales eased to 7.2 percent from 8.7 percent a month ago. Sales were expected to expand 8.6 percent.
On the positive side, fixed asset investment climbed 6.1 percent during January to April compared to the 6.3 percent expansion logged in January to March. Economists had forecast 6.4 percent growth.
Property investment increased 11.9 percent in the four months to April following the 11.8 percent rise in the January to March period.
Japanese shares rose to snap a seven-day losing streak on expectations that Beijing will boost stimulus spending and bank lending to boost slowing growth.
The Nikkei 225 Index ended a choppy session up by 121.33 points or 0.6 percent at 21,188.56, while the broader Topix closed 0.6 percent higher at 1,544.15.
Exporters led the advance as the dollar rose against the yen. Canon, Panasonic, Hitachi and Sony climbed 1-4 percent. Mitsubishi Estate jumped 9.2 percent on share buyback news.
On the other hand, Nissan Motor plunged 6.5 percent after the automaker posted disappointing fiscal 2018 earnings.
Drug maker Takeda Pharmaceutical slumped 7.8 percent after forecasting an unexpected operating loss for the current year due to costs associated with the multi-billion-dollar Shire deal.
Australian markets advanced in light trading as Trump downplayed his escalating tariff war with China. The benchmark S&P/ASX 200 Index climbed 44.30 points or 0.7 percent to 6,284.20, while the broader All Ordinaries Index ended up 43.70 points or 0.7 percent at 6,370.90.
Miners recovered despite China’s steel futures struggling near five-week lows. Heavyweights BHP and Rio Tinto jumped around 2 percent.
Energy stocks such as Woodside Petroleum, Santos, Origin Energy and Oil Search rose 1-2 percent after a drone attack on Saudi Aramco’s facilities.
Meanwhile, gold minders fell on profit taking on improved risk appetite. Northern Star Resources dropped 1.4 percent and Regis Resources lost 2.1 percent.
In economic news, Australian consumer confidence improved in May, data from Westpac showed. The Westpac-Melbourne Institute Index of Consumer Sentiment rose to 101.3 in May from 100.7 in April.
Seoul stocks gained ground as investors cheered Trump’s optimistic remarks on the prospects of a U.S.-China trade deal. The benchmark Kospi rose 10.94 points or 0.5 percent to 2,092.78.
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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