Economy
US Earnings Buoy Asian Stock Markets Thursday
By Investors Hub
Asian stocks ended mostly higher on Thursday as upbeat U.S. earnings news helped offset investor concerns surrounding Brexit and the U.S.-China trade war.
While luxury electric car maker Tesla reported a surprise third-quarter profit, software giant Microsoft’s quarterly earnings were boosted by cloud and Office revenues.
Chinese stocks closed on a flat note as caution crept in ahead of a crucial meeting of the ruling Communist Party next week.
The benchmark Shanghai Composite Index finished marginally lower at 2,940.92, while Hong Kong’s Hang Seng Index gained 0.9 percent to close at 26,797.95.
Japanese shares hit over a one-year high as investors lapped up technology stocks on hopes for improved earnings following Microsoft’s stronger than expected sales forecasts for its cloud computing services. A weaker yen also helped underpin investor sentiment.
The Nikkei 225 Index climbed 125.22 points, or 0.6 percent, to 22,750.60, while the broader Topix closed 0.3 percent higher at 1,643.74. Tokyo Electron rallied 2.2 percent and Screen Holdings added 1.3 percent.
Pharmaceutical company Eisai Co soared 15.3 percent after it reached an agreement with its U.S. partner Biogen Inc. to revive plans to seek U.S. approval for an Alzheimer’s treatment.
Japan Display jumped 6.8 percent on a Nikkei report that tech giant Apple will be among a group of backers expected to provide as much as 40 billion yen in support for the troubled screen maker.
Softbank dropped 2.9 percent on continued worries that its finances will weaken due to its bailout of office-space sharing startup WeWork.
On the data front, Japan’s private sector contracted in October as a typhoon disrupted service sector activity, survey results from IHS Markit showed.
The Jibun Bank flash composite output index fell to 49.8 from 51.5 in September. The manufacturing PMI came in at 48.5 versus 48.9 in September.
Australian markets eked out modest gains as higher commodity prices helped lift resource stocks. The benchmark S&P/ASX 200 Index rose 20.50 points, or 0.3 percent, to 6,693.60, while the broader All Ordinaries Index ended up 18.50 points, or 0.3 percent, at 6,796.70.
Mining heavyweight BHP climbed 1 percent and Rio Tinto added 0.7 percent after an increase in copper and iron ore prices. Smaller rival Fortescue Metals Group gained half a percent after reporting a rise in first quarter shipments.
Energy stocks such as Santos and Woodside Petroleum jumped over 2 percent after oil prices rose sharply on Wednesday to reach one-month highs following a surprise draw in US crude inventories.
Electronics retailer JB Hi-Fi soared 6.8 percent as it posted strong sales in the July-September period.
AMP rose 1.1 percent. The wealth manager said third-quarter net cash outflows at its Australian wealth management unit rose more than 30 percent amid the fallout of the financial services royal commission.
Qantas Airways tumbled 3.7 percent after the airline reported lower revenue from its domestic routes at its budget carrier Jetstar. Gold miner Newcrest Mining dropped 1.6 percent on reporting weaker gold output in the first quarter.
Australia’s private sector logged weaker growth in October, survey data from IHS Markit showed. The Commonwealth Bank of Australia Flash Composite Output Index dropped to 50.7 from 52.0 in September, reflecting a weaker rise in services activity.
Seoul stocks edged higher as SK Hynix’s third quarter profit beat expectations, raising hopes of a recovery in the chip making industry. The benchmark Kospi inched up 5.04 points, or 0.2 percent, to 2,085.66. while shares of SK Hynix, the world’s second-largest memory chipmaker, jumped 3 percent.
Investors shrugged off preliminary data from the Bank of Korea showing the South Korean economy expanded at a slower pace in the third quarter amid heightened global uncertainties.
Gross domestic product grew 0.4 percent sequentially after rising 1 percent in the second quarter. GDP was forecast to expand 0.5 percent. On a yearly basis, Asia’s fourth-largest economy maintained 2 percent growth, in line with expectations.
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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