ASIC is investigating last Monday's ASX market freeze. Image: Getty
ASX Small Cap Lunch Wrap: ASIC launches probe into… the ASX
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For all those traders left frustrated by last Monday’s trading outage on the ASX, there is some good news.
Financial markets regulator ASIC has launched an investigation into the event that left a lot of traders scratching their heads.
“ASIC has confirmed to ASX that it is conducting an investigation into the ASX Trade outage on Monday, November 16, 2020,” said the ASX in a short media statement, Monday.
“ASX acknowledges that this is appropriate given ASIC’s regulatory oversight,” it said.
The ASX confirmed its intention to fully cooperate with the ASIC investigation.
Perhaps the ASIC investigation will get to the bottom of the trading outage which at the time was put down to tech issues.
Trading in ASX shares and other financial instruments was halted from mid-morning and only resumed the next day, Tuesday, November 17.
ASIC said at the time of the outage that it viewed the trading interruption with “significant concern”.
“It has had a significant impact on the market, including market participants and investors,” said ASIC.
Stockhead approached ASIC for comment, but had yet to receive any response as this article went to publication.
ASX market is up in early trade
The ASX All Ordinaries index galloped higher in Monday morning trade and was up 43 points (0.6 per cent) at 6,783 by lunchtime in Sydney.
The index is up a solid 10 per cent since the start of November.
US stocks closed lower on Friday as investors stayed in a cautious mood.
Equity markets in the US are see-sawing between optimism on a roll-out of COVID-19 vaccines and hopes that Congress will pass a $2 trillion stimulus package, and worries about the rising number of cases in the pandemic, said analysts.
The Nasdaq index hovered close to 12,000 points at 11,854, down 0.4 per cent from Thursday, while the Dow Jones was 0.75 per cent lower on-day at 29,263 points.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Monday November 23:
Swipe or scroll to reveal the full table. Click headings to sort.
Stocks highlighted in yellow have made market-moving announcements
| CODE | NAME | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| SPN | Sparc Tech Ltd | 0.315 | 58 | $ 53,771.80 |
| XPE | Xped Limited | 0.002 | 100 | $ 1,792,862.02 |
| GME | GME Resources Ltd | 0.066 | 57 | $ 23,388,411.06 |
| VIC | Victory Mines Ltd | 0.003 | 50 | $ 8,832,642.98 |
| XST | Xstate Resources | 0.004 | 33 | $ 4,347,722.69 |
| ZER | Zeta Resources Ltd | 0.24 | 33 | $ 51,775,753.68 |
| SUV | Suvo Strategic | 0.17 | 31 | $ 47,851,471.85 |
| TNK | Think Childcare | 1.66 | 27 | $ 79,986,813.16 |
| ARO | Astro Resources NL | 0.005 | 25 | $ 11,623,907.14 |
| CAD | Caeneus Minerals | 0.011 | 22 | $ 35,296,613.70 |
| GML | Gateway Mining | 0.033 | 22 | $ 51,357,132.97 |
| ONE | Oneview Healthcare | 0.061 | 22 | $ 8,721,397.70 |
| MEP | Minotaur Exploration | 0.23 | 21 | $ 94,050,696.35 |
| TZL | TZ Limited | 0.11 | 21 | $ 8,347,030.06 |
| VAR | Variscan Mines Ltd | 0.03 | 20 | $ 5,252,338.78 |
| AZI | Alta Zinc Ltd | 0.006 | 20 | $ 18,053,495.88 |
| MSE | Metalsearch Ltd | 0.043 | 19 | $ 49,645,842.62 |
| GRV | Greenvale Mining Ltd | 0.125 | 19 | $ 28,438,763.22 |
| AZS | Azure Minerals | 0.975 | 19 | $ 199,417,945.94 |
| QEM | QEM Limited | 0.095 | 19 | $ 8,000,000.00 |
Internet of things healthcare company XPED (ASX:XPE) soared 100 per cent Monday without releasing any news to the market.
The tech company provides a range of software and hardware solutions to the healthcare sector including hospitals and aged-care facilities.
XPED said in its September quarter update that it continues to expand into the technology market for the independent living sector.
Sparc Technologies’ (ASX:SPN) return to the ASX, relisting as a graphene technology company, was well received by the market.
The company’s share price rose to 33c after an IPO priced at 20c per share that raised $4m of fresh capital.
Sparc Technologies is seeking to commercialise some patents developed by the University of Adelaide for the use of graphene in industrial materials.
Its initial business focus is on a marine coating application for graphene to enhance the performance of marine vessels.
The company is also looking into using graphene to extract valuable minerals from mine tailings.
GME Resources (ASX:GME) advanced strongly in morning trade, as it posted some drilling results for its Fairfield deposit in WA.
Intercepts from the drilling included 10m at 2.9 grams per tonne gold from 13m at Fairfield, located 25km north of Laverton.
The gold, nickel and cobalt exploration company’s NiWest nickel-cobalt project is adjacent to Glencore’s Murrin Murrin mine in WA.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Monday, November 23:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | NAME | PRICE | %CHANGE | MARKET CAP |
|---|---|---|---|---|
| CLZ | Classic Min Ltd | 0.001 | -50 | $ 26,678,279.47 |
| ALT | Analytica Limited | 0.002 | -33 | $ 10,558,837.00 |
| RFN | Reffind Limited | 0.002 | -33 | $ 4,389,775.86 |
| NPM | Newpeak Metals | 0.003 | -25 | $ 18,672,650.04 |
| TPD | Talon Petroleum Ltd | 0.003 | -25 | $ 17,407,158.10 |
| HZR | Hazer Group Limited | 0.65 | -19 | $ 112,987,841.60 |
| AOA | Ausmon Resorces | 0.006 | -14 | $ 4,764,615.40 |
| HNR | Hannans Ltd | 0.006 | -14 | $ 13,915,681.77 |
| CXM | Centrex Metals | 0.033 | -13 | $ 12,376,043.57 |
| ADY | Admiralty Resources. | 0.014 | -13 | $ 18,546,155.18 |
| SRY | Story-I Limited | 0.014 | -13 | $ 5,918,668.62 |
| MSL | MSL Solutions Ltd. | 0.105 | -13 | $ 39,512,493.96 |
| FTC | Fintech Chain Ltd | 0.11 | -12 | $ 81,346,198.50 |
| SIS | Simble Solutions | 0.032 | -11 | $ 8,577,523.15 |
| WFL | Wellfully Limited | 0.125 | -11 | $ 20,508,198.62 |
| HLX | Helix Resources | 0.009 | -10 | $ 7,941,199.28 |
| MAG | Magmatic Resrce Ltd | 0.195 | -9 | $ 37,285,364.07 |
| HMC | Home Consortium | 3.86 | -9 | $ 1,088,068,289.58 |
| KP2 | Kore Potash PLC | 0.011 | -8 | $ 2,763,905.12 |
| MRQ | Mrg Metals Limited | 0.011 | -8 | $ 16,199,419.67 |
Hydrogen technology company Hazer Group (ASX:HZR) went off the boil in morning trade, slumping nearly 20 per cent.
The company announced it has ended its collaboration agreement with iron ore company Mineral Resources (ASX:MIN).
A pilot plant for the companies’ joint project was completed in August last year for producing synthetic graphite.
“However, following a review of the synthetic graphite industry and due to changes within Mineral Resources’ business, graphite is no longer considered a strategic focus for Mineral Resources, and the company has decided to focus on the opportunities available to it in its highly successful iron ore, lithium and mining services portfolios,” said Hazer Group.
The technology company is commercialising the Hazer Process, a low emission hydrogen and graphite production process.
The process converts natural gas and methane into hydrogen and high-quality graphite using iron ore as a catalyst.
Centrex Metals (ASX:CXM) pulled back only days after its successful capital raising for $638,700.
The phosphate company is developing its Ardmore project and has the Oxley project for potash.
Also in the company’s project pipeline are some gold-copper-base metals exploration tenements in NSW’s Lachlan Fold Belt.
