Economy
Global Stocks Sell-off Engulfs Asia Over Trade War Fears
By Investors Hub
Asian stocks joined a global sell-off on Friday after President Donald Trump vowed to impose tariffs on steel and aluminum imports, sparking fears of a trade war. Concerns over a faster pace of interest rate increases in the U.S. also kept investors nervous.
China’s Shanghai Composite Index dropped 19.18 points or 0.6 percent to 3,254.58 and Hong Kong’s Hang Seng Index plunged 460.80 points or 1.5 percent to 30,583.45 as investors looked ahead to an upcoming session of the National People’s Congress starting next week in Beijing. The gathering of 3,000-plus delegates is expected to set the tone for the year’s development plans.
Japanese shares tumbled amid a stronger yen as investors fretted about a potential trade war and the prospect of the ECB and Bank of Japan exiting extraordinary stimulus.
The Nikkei 225 Index slumped 542.83 points or 2.5 percent to 21,181.64, the lowest closing level since February 14th. The index fell 3.2 percent for the week. The broader Topix Index closed 1.8 percent lower at 1,708.34, dragged down by steel and aluminum companies.
Exporters Sony, Canon and Panasonic fell 1-2 percent as the yen strengthened. Steel makers Nisshin Steel, Kobe Steel and JFE Holdings all fell around 3 percent, while automakers Toyota Motor, Honda Motor and Mazda Motor lost 2-4 percent on worries that higher tariffs could boost their costs.
In economic news, Japanese core consumer inflation rose at the fastest pace in nearly three years in February, while the jobless rate hit its lowest level in nearly 25 years in a sign that the labor market is tightening.
Australian shares extended losses for the third straight session, dragged down by miners after Trump said the U.S. would impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum.
The benchmark S&P/ASX 200 Index dropped 44.40 points or 0.7 percent to 5,928.90, while the broader All Ordinaries Index ended down 47.30 points or 0.8 percent at 6,028.40.
Miners BHP Billiton, Rio Tinto and Fortescue Metals Group fell between 0.8 percent and 1.6 percent. BlueScope Steel rose 0.8 percent on expectations that its North American operations will benefit from the tariffs announced by Trump.
Woolworths shed 0.6 percent after the ACCC said it would take the company to the federal court, accusing it of incorrectly labeling its ‘W Select eco’ branded disposable picnic products as biodegradable.
Meanwhile, gold miner Newcrest gained over 1 percent and Regis Resources jumped more than 2 percent as gold prices rebounded from two-month lows.
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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