Some punters are blaming likeable stuntman and actor Jackie Chan for the misfortunes afflicting Chinese real estate colossus Evergrande.

On Sunday, human rights activist Jennifer Zeng pointed out that the conglomerate has been on a losing streak ever since it picked Jackie Chan to endorse its bottled water:

It’s not the first company to suffer Chan’s ‘kiss of death’.

“As early as 2010, Chan has been mocked by Chinese consumers for the long line of companies that have gone out of business or suffered a downturn in profits after hiring him to promote their brands,” writes Taiwan News.

“Examples of companies that have taken a major hit after hiring Chan include Gree Electric, food company Synear, and Bawang shampoo, while firms that have gone belly up include California Fitness, Fen Huang Cola, and Aiduo VCD.”

On markets, the oil trade is still well and truly in play.

The ASX 200 Energy index has now posted strong gains of at least 1% for six straight sessions, and today looks like it will be the best of the lot — up more than 3% into midday trade.

Energy stocks comfortably outpaced the broader ASX 200, which fell by around 1%.

The falls followed a weak session on Wall Street, amid signs of what could be a tightening of liquidity at the edges of the global financial system.

Along with the move higher in oil prices, US Fed Chair Jerome Powell is expected to tell US Congress tonight that inflation growth may prove more persistent that previously expected.

US 10-year bond yields — viewed as a key benchmark for global interest rates — have climbed to 12-week highs of around 1.5%.

In that environment, Aussie bank stocks are higher this morning while the ASX 200 tech index lagged with a fall of more than 2%.


Here are the best performing ASX small cap stocks for Tuesday September 28 [intraday]:

Stocks highlighted in yellow made market-moving announcements.

Wordpress Table Plugin

ASX debutante Li-S Energy (ASX:LIS) was the talk of markets leading up to its IPO, and the stock didn’t disappoint when it hit the boards this morning.

A spin-out of 10,000% gainer PPK Group (ASX:PPK), Li-S Energy raised $34m from investors at 85c per share which it will use to develop what it hopes to be game-changing technology for lithium sulphur batteries.

The market reaction was massive, as LIS opened above $2.50 a share for a day-one gain of more than 200%.

Elshwere on the winner’s list, another resources IPO caught the eye of investors as Dalaroo Metals (ASX:DAL) shot higher by more than 60% on debut.

Dalaroo raised $5m from investors to fund exploration efforts at two sites in WA, the Namban nickel-copper-PGE project and the Lyons River zinc-lead-copper project.

Outside of resources, gains among stocks with news were led by Tuas Ltd (ASX:TUA), the Singapore-based spinout of telco large cap TPG Telecom.

Following the merger of TPG Telecom and Vodafone in June last year, Tuas was demerged at a separate entity.

Shares in the company rose following the release of its inaugural annual report today, which showed a tripling in subscriber numbers to 392,000 over the past 11 months.


Here are the worst performing ASX small cap stocks for Tuesday September 28 [intraday]:

Stocks highlighted in yellow made market-moving announcements.

Wordpress Table Plugin