Economy
Trump’s Higher Tariffs Threat on Chinese Goods Crashes Asian Stocks
By Investors Hub
Asian stock markets fell on Wednesday as risk appetite waned after U.S. President Donald Trump threatened higher tariffs on Chinese goods if a trade deal is not reached between the two countries.
Hopes for a trade deal further dimmed after the U.S. Senate passed legislation supporting protesters in Hong Kong. China has condemned the U.S. Senate measure.
Chinese shares closed lower amid rising U.S.-China tensions. The benchmark Shanghai Composite Index dropped 22.94 points or 0.8 percent to finish at 2,911.05.
Hong Kong shares fell for the first time in three days. The Hang Seng Index tumbled 204.19 points or 0.8 percent to close at 26,889.61.
The Japanese market extended losses from the previous session and the safe-haven yen strengthened on fresh worries about a U.S.-China trade deal. Data showing Japan’s merchandise trade surplus for October missed expectations also dampened sentiment.
The benchmark Nikkei 225 Index fell 144.08 points or 0.6 percent to close at 23,148.57, while the broader Topix dropped 5.62 points or 0.3 percent to finish at 1,691.11.
Market heavyweight SoftBank Group and Fast Retailing declined 1.2 percent each. The major exporters fell on a stronger yen. Sony lost 0.9 percent, Canon is dipped 1.3 percent, Mitsubishi Electric dropped 0.6 percent and Panasonic edged down less than 0.1 percent.
In the tech space, Tokyo Electron slipped 1.6 percent and Advantest fell 2.7 percent. Among auto stocks, Toyota Motor declined 0.9 and Honda Motor dropped 1.3 percent.
Among the major gainers, Sumitomo Dainippon Pharma soared 6.9 percent, Rakuten rose 2.6 percent and M3 added 2.5 percent.
On the flip side, Nippon Yusen KK lost 4.2 percent, T&D Holdings dropped 4 percent and JGC Holdings fell 3.7 percent.
In economic news, the Ministry of Finance said Japan posted a merchandise trade surplus of 17.3 billion yen in October. That was well shy of expectations for a surplus of 301.0 billion yen following the 124.8 billion yen deficit in September.
Exports fell 9.2 percent year-over-year, missing forecasts for a drop of 7.5 percent following the 5.2 percent decline in the previous month. Imports were down an annual 14.8 percent versus expectations for a drop of 15.4 percent after dipping 1.5 percent a month earlier.
The Australian market closed notably lower, recording its worst day in nearly seven weeks amid fresh uncertainty about a U.S.-China trade deal and sharp losses in the banking sector.
The benchmark S&P/ASX 200 Index fell 91.80 points or 1.4 percent to close at 6,722.40, while the broader All Ordinaries Index lost 85.80 points or 1.2 percent to settle at 6,828.30.
In the banking space, Westpac’s shares fell 3.3 percent after AUSTRAC, Australia’s financial intelligence agency, accused the lender of breaching money laundering and anti-terrorist financing laws 23 million times.
ANZ Banking declined 2.1 percent, Commonwealth Bank dipped 1.3 percent and National Australia Bank lost 3.1 percent.
Among the major miners, BHP declined 0.6 percent and Rio Tinto fell 0.8 percent, while Fortescue Metals added 0.2 percent.
Oil stocks fell as crude oil prices tumbled overnight. Oil Search declined 1.8 percent, while Santos dropped 1.5 percent and Woodside Petroleum lost 1.3 percent.
Origin Energy raised the full-year production outlook for its Australia Pacific LNG project. However, the company’s shares dipped 0.6 percent.
Aristocrat Leisure reported a 29 percent increase in full-year profit and said it will pay a higher fully franked final dividend. The gambling giant’s shares gained 6 percent.
Lifescience and industrial testing company ALS gained 12.1 percent after reporting a 5.3 percent increase in its half-year profit.
Meanwhile, Saracen Mineral Holdings’ shares fell 10.6 percent after coming out of a trading halt following a A$701 million capital raising to fund its acquisition of a 50 percent stake in the Super Pit goldmine in Western Australia.
On the economic front, Australia’s leading index rose moderately in October, but it remained below trend, suggesting weak economic momentum carrying well into 2020, Westpac reported Wednesday.
The six-month annualized growth rate in the Westpac-Melbourne Institute leading index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, increased to -0.91 percent in October from -1.01 percent in September.
Seoul stocks fell for the third straight day amid fresh worries about a U.S.-China trade deal. The benchmark Kospi lost 27.92 points or 1.3 percent to settle at 2,125.32.
Market heavyweight Samsung Electronics fell 2.8 percent and chipmaker SK hynix dropped 3.1 percent. Automaker Hyundai Motor edged down 0.4 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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