What goes up must come down. But in the case of space debris from China’s latest rocket launch, it’s just a question of where (and how much of it) there is.

China sent a module into orbit last week which will form part of its new space station. And debris from the 21-tonne rocket booster that launched said module out of the atmosphere is now hurtling back to Earth.

Where will it land? Anyone’s guess at this point, although US space authorities have flagged May 8 (tomorrow) for the debris to re-enter our atmosphere.

Some of it will burn up on re-entry, but the rest is likely to make an almighty splash (somewhere) in the ocean.

Back on land, the ASX is on track to close the week in positive territory, with steady gains across the major indexes.

All the banks and miners are pushing higher, but tech stocks are tanking again with Afterpay (ASX:APT) down another six per cent and on track to lose more than 20 per cent for the week.

The Aussie dollar has shrugged off yesterday’s wobble after China suspended economic dialogue, while gold is back trading above $US1,800 an ounce for the first time since February.
 

WINNERS

Here are the best performing ASX small cap stocks to 11:30am on Friday, May 7

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

CODE COMPANY PRICE % MOVE VOLUME MARKET CAP
ANL Amani Gold Ltd 0.0015 50 5,897,145 $10,786,997
KKO Kinetiko Energy Ltd 0.135 23 265,017 $64,698,778
ELT Elementos Limited 0.0205 21 63,431,986 $65,451,077
QFE Quickfee Limited 0.295 18 2,731,480 $50,386,429
WCN White Cliff Min Ltd 0.02 18 27,635,382 $8,792,339
AVW Avira Resources Ltd 0.007 17 794,285 $8,250,240
CCE Carnegie Cln Energy 0.0035 17 7,841,447 $43,267,721
VPR Volt Power Group 0.0035 17 524,000 $27,508,601
NOX Noxopharm Limited 0.565 16 1,533,895 $135,256,571
MGU Magnum Mining & Exp 0.18 16 4,175,494 $65,917,700
OKR Okapi Resources 0.225 15 100,000 $9,594,149
KMT Kopore Metals Ltd 0.03 15 2,743,333 $16,780,111
KEY KEY Petroleum 0.004 14 1,000,000 $6,887,748
PNX PNX Metals Limited 0.008 14 500,000 $25,565,355
TEG Triangle Energy Ltd 0.041 14 5,955,497 $22,347,485
ERW Errawarra Resources 0.215 13 77,942 $6,452,515
DRE Drednought Resources 0.026 13 17,821,574 $56,131,824
SRZ Stellar Resources 0.026 13 6,084,458 $17,390,094
TAR Taruga Minerals 0.088 13 2,935,862 $36,002,967
MGT Magnetite Mines 0.062 13 21,296,443 $158,616,071
CAP Carpentaria Resource 0.045 13 4,079,233 $15,397,626

 

After a week of big resources winners, Friday gains were topped by an energy stock. Kinetiko Energy (ASX:KKO) rose by more than 20 per cent after signing a deal to acquire the 51 per cent of Afro Energy Ltd it didn’t already own from Badimo Gas.

The deal gives KKO sole ownership of exploration rights for the South Africa-based gas project, and “de-risks the project” by bringing together “all the experience and expertise of the historic joint venture parties”, the company said.

Also rising strongly were tech services company QuickFee (ASX:QFE) which flagged strong growth in its US operations, and iron ore play Magnetite Mines (ASX:MGT) which announced a share placement at a premium to its recent trading price.
 

LOSERS

Here are the best performing ASX small cap stocks to 11:30am on Friday, May 7

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

CODE COMPANY PRICE % CHANGE VOLUME MARKET CAP
CLZ Classic Min Ltd 0.0015 -25 32,437,968 $35,114,383
LIO Lion Energy Limited 0.078 -20 18,370,703 $23,373,175
BAS Bass Oil Ltd 0.002 -20 916,665 $8,355,350
NPM Newpeak Metals 0.002 -20 568,884 $14,185,403
THR Thor Mining PLC 0.015 -17 9,513,751 $9,052,013
CZR CZR Resources Ltd 0.011 -15 1,525,566 $37,089,246
DCX Discovex Res Ltd 0.006 -14 1,099,900 $17,980,649
DTR Dateline Resources 0.003 -14 56,000 $30,908,773
NTL New Talisman Gold 0.003 -14 2,375,394 $9,772,789
BPM BPM Minerals 0.235 -13 515,910 $6,682,500
AFW Applyflow Limited 0.007 -13 1,647,860 $14,494,830
VAL Valor Resources Ltd 0.014 -13 22,004,145 $46,301,303
ID8 Identitii Limited 0.11 -12 856,976 $18,973,884
IHR intelliHR Limited 0.23 -12 670,357 $72,255,695
TRT Todd River Res Ltd 0.054 -11 1,495,352 $33,767,326
DW8 Digital Wine Venture 0.12 -11 6,679,473 $224,989,975
ADX ADX Energy Ltd 0.008 -11 1,100,000 $22,875,853
ARO Astro Resources NL 0.004 -11 524,999 $16,938,869
OXX Octanex Ltd 0.05 -11 699,739 $13,598,135
FMS Flinders Mines Ltd 0.95 -10 3,100 $178,979,492
SBW Shekel Brainweigh 0.135 -10 9,500 $22,976,250
CAQ CAQ Holdings Ltd 0.017 -10 127,223 $14,355,726