Economy
Asian Stocks Rise Despite Hike in Tariffs on Chinese Goods by US
By Investors Hub
Asian stocks ended mostly higher on Friday as investors shrugged off the U.S. decision to increase tariffs on $200 billion worth of Chinese goods and remained hopeful of a breakthrough in trade talks.
China’s Shanghai Composite Index spiked 88.26 points or 3.1 percent to 2,939.21 and the yuan strengthened as state funds stepped in to prop up markets following the Trump administration’s latest tariff hike. Hong Kong’s Hang Seng Index advanced 239.17 points or 0.8 percent to 28,550.24.
Meanwhile, Japanese shares ended lower after the U.S. hiked tariffs on more than $200 billion in goods from China, raising concerns the trade dispute will dent global growth.
The Nikkei 225 Index ended down 57.21 points or 0.3 percent at 21,344.92, extending losses for a fifth straight session. For the week, the Nikkei ended down more than 4 percent, marking the biggest weekly loss this year. The broader Topix ended marginally lower at 1,549.42.
China-related stocks rebounded from recent losses on short-covering. Fanuc rose 0.8 percent and Yaskawa Electric gained 2.3 percent.
Panasonic Corp slumped 6.5 percent after warning profit this financial year would fall for the first time in eight years. Mitsubishi Motors lost 13.8 percent as Nomura Securities cut its target on the stock.
Australian markets fluctuated before finishing modestly higher as a federal election loomed and U.S.-China trade talks headed into a second day.
The benchmark S&P/ASX 200 Index rose 15.60 points or 0.3 percent to 6,310.90, while the broader All Ordinaries Index ended up 15.80 points or 0.3 percent at 6,393.10.
Energy stocks such as Origin Energy, Santos and Woodside Petroleum rose between half a percent and 1 percent as oil prices rose on optimism for a U.S.-China trade deal.
Mining heavyweights BHP and Rio Tinto ended slightly lower, while smaller rival Aurelia Metals gained 0.9 percent after it abandoned talks to buy the CSA mine in New South Wales.
Banks ended mostly higher showing modest gains despite the Reserve Bank of Australia downgrading its economic forecasts for GDP and underlying inflation this year.
Seoul stocks rose to snap a four-day losing streak as trade negotiations between the U.S. and China moved into a second day.
The benchmark Kospi inched up 6.03 points or 0.3 percent to 2,108.04. Tech heavyweight Samsung Electronics advanced 1.1 percent, while chipmaker SK Hynix fell 2.1 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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