ASX Small Cap Lunch Wrap: A different kind of ‘helicopter money’

To prevent the global economy from collapsing in on itself during COVID-19, major governments and central banks have splashed plenty of cash.

The response has raised talking points around the merits and possible risks of “helicopter money” flowing into the financial system.

But a citizen of Chongqing in south-west China has taken the concept to a new level, recently scattering a stream of bank notes from his 30th-floor apartment window onto the street below.

(Reports indicate that it may have had less to do with improving liquidity in the local financial system, and more to do with excess consumption of methamphetamine).

To markets, and the ASX is still stuck in a rut as investors assess the outlook ahead of next week’s US federal election.

Shortly after midday AEST, the ASX200 was down by around 0.35 per cent, with similar falls on the Emerging Markets Index.

After threatening to fall below US70c, the AUD has found support in Asian trade while gold is back below $US1,900 an ounce.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Friday October 30:

Swipe or scroll to reveal the full table. Click headings to sort.

Stocks highlighted in yellow have made market-moving announcements

It’s by no means a small cap, but embattled financial services company AMP (ASX:AMP) turned some heads after getting a takeover bid from US private equity firm Ares.

With quarterlies season in full swing, it was tech stocks which ruled the roost this morning after markets responded to the latest round of trading updates.

And amid unexpectedly strong steel demand out of China, a number of junior iron ore players are basking in the glow as benchmark iron ore prices remain supported above $US100 a tonne.

LOSERS

Here are the best performing ASX small cap stocks at 12pm Friday October 30:

Swipe or scroll to reveal the full table. Click headings to sort.