Economy
Asian Stocks Rise as US-China Talks Record Progress
By Investors Hub
Asian stocks rose on Friday as reports of progress in U.S.-China trade talks as well as stronger than expected economic data from the U.S. helped ease global growth worries.
China’s Shanghai Composite Index jumped 36.37 points or 1.4 percent to 2,596.01 ahead of China’s fourth-quarter GDP data due on Monday. Hong Kong’s Hang Seng Index surged up 335.18 points or 1.3 percent to 27,090.81.
Japanese shares closed higher as the yen weakened on improved risk appetite after a report the U.S. could lift trade tariffs on China.
The benchmark Nikkei 225 Index rallied 263.80 points or 1.3 percent to 20,666.07, while the broader Topix finished higher by 14.39 points or 0.9 percent at 1,557.59.
Exporters surged, with Canon, Nissan Motor, Panasonic and Sony rising between 0.7 percent and 1.3 percent. In the tech sector, Tokyo Electron soared 3.8 percent and Advantest surged 1.9 percent.
In economic news, the Ministry of Internal Affairs and Communications said that overall consumer prices in Japan rose an annual 0.3 percent in December, in line with expectations.
Australian stocks hit over two-month highs, with banks and material stocks gaining ground on hopes of easing U.S.-China trade tensions.
The benchmark S&P/ASX 200 Index rose 29.50 points or 0.5 percent to 5,879.60, extending gains for the fourth straight session. The broader All Ordinaries Index ended up 31.40 points or 0.5 percent at 5,941.20.
The big four banks rose between 0.3 percent and 0.6 percent. Mining giant Rio Tinto edged up 0.3 percent after it flagged a rise in Pilbara iron ore exports this year. BHP, which will unveil its second quarter production figures next week, advanced 0.7 percent.
Payment service provider Afterpay Touch Group soared 13 percent after its first-half global underlying sales jumped 240 percent. Language tech company Appen climbed 5 percent.
Seoul stocks closed higher for the fourth consecutive session on optimism for progress in the U.S.-China trade dispute.
The benchmark Kospi climbed 17.22 points or 0.8 percent to 2,124.28 after a report suggested U.S. Treasury Secretary Steven Mnuchin has discussed lifting some or all tariffs imposed on Chinese imports to secure a beneficial long-term trade deal with Beijing.
Automakers led the
surge after the government presented its hydrogen economy plan featuring
fuel cell electric vehicles. Hyundai Motor rose 1.2 percent and Hyundai
Mobis added 1.5 percent.
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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