Economy
Chinese Shares Snap Four-Day Losing Streak
By Investors Hub
Most Asian stocks rose on Thursday as the yen’s strong trend paused and oil prices rebounded from an overnight sell-off.
However, overall gains remained muted ahead of this weekend’s French presidential vote. Opinion polls suggest that the election will be close.
Chinese shares snapped a four-day losing streak as investors lapped up stocks that would benefit from the newly-launched Xiongan economic zone.
The benchmark Shanghai Composite Index inched up 1.41 points or 0.04 percent to 3,172.10. Hong Kong’s Hang Seng Index jumped 231.10 points or 0.97 percent to 24,056.98, snapping a three-day losing streak.
Australian shares bounced back from three-week lows, led by gains by telecom and financial stocks. The benchmark S&P/ASX 200 Index rose 17.40 points or 0.30 percent to 5,821.40, while the broader All Ordinaries Index closed 14.50 points or 0.25 percent higher at 5,854.40.
Bargain hunters chased telecom stocks, with Telstra and TPG Telecom climbing nearly 3 percent each. Banks ANZ, Commonwealth and NAB rose between 0.6 percent and 1.2 percent after recent heavy losses.
On the other hand, mining giant Rio Tinto slipped 0.4 percent as it maintained its iron ore shipment guidance for 2017 despite weakening ore prices. Gold miners Newcrest, Northern Star and Regis Resources lost over 1 percent each after gold prices fell as much as 1 percent the previous day.
Woodside Petroleum dropped 1.2 percent and Santos fell as much as 2.5 percent after oil prices tumbled almost four percent overnight on data showing a surprise increase in gasoline inventories.
On the economic front, a quarterly survey showed that Australian business conditions improved in the first quarter, driven by an increase in profitability and employment. The NAB’s current conditions index rose 2 points to +8 while the business confidence index held steady at 6.
Meanwhile, Japanese shares ended little changed as caution set in ahead of the upcoming French presidential election on Sunday. The Nikkei 225 Index ended down 1.71 points or 0.01 percent to 18,430.49, while the broader Topix Index closed 0.09 percent higher at 1,472.81.
Camera maker Canon climbed 2.5 percent ahead of its financial results due next week, while testing equipment maker Advantest rallied 4.5 percent. Toshiba, which is undergoing business restructuring, soared 5.3 percent.
In economic news, Japan posted a merchandise trade surplus of 614.722 billion yen in March, the Ministry of Finance said, down 17.5 percent from a year earlier. The headline figure topped forecasts for a surplus of 605.6 billion yen.
Exports climbed an annual 12.0 percent, beating forecasts for an increase of 6.2 percent, while imports added an annual 15.8 percent.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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