Good old-fashioned Vaseline, the thick petroleum jelly substance, is making a comeback thanks to TikTok and a South Korean skincare craze called slugging.

Trending on the app with more than 100 million viewers watching clips on slugging, the practice involves going to bed at night with your face slathered in Vaseline.

It’s supposed to trap in moisture and prevent dry skin. Magically, when you wake up and remove the Vaseline according to the clips, your face will look radiant.

Vaseline trending on TikTok
Slugging – using Vaseline as as skin treatment is trending on TikTok.

US chemist Robert Cheseborough discovered petroleum jelly, which he marketed as Vaseline back in the mid 1800s.

He was intrigued to find that oilfield hands working at deposits in Pennsylvania used a black, gooey substance that got on the sucker rods to draw oil to the surface as an emollient.

The workers claimed it helped heal burns, scrapes and other skin conditions. Cheseborough studied the substance, worked out a way to purify it, got a patent, marketed it as Vaseline and the rest is history.

We’re thinking Cheseborough would be chuffed to see Vaseline making a comeback as a beauty product on social media.

ASX comeback

Speaking of comebacks, to markets where the ASX is looking a lot different today than it was a week ago.  At midday local stocks were strongly in the green, having risen 1.20% to 7,089 points following the lead of US stocks, which rallied overnight.

All three US benchmarks rose – the S&P 500 by 0.69%, Dow Jones by 0.78%, and Nasdaq by 0.75%.

On currency markets, the Australian dollar is trading at ~US71 cents, while Bitcoin has made a comeback from recent lows and is up 16.5% to ~US$54k.

Doves bring peace

The ASX has got a bit of a boost after the RBA let the doves out to fly yesterday (well maybe only a few).  The RBA board used its first official meeting of the year to formally end its quantitative easing program, which it started in 2020 as a measure to ease economic pressures from the COVID-19 pandemic.

QE involves the RBA purchasing assets such as federal and state government bonds, essentially pumping money back into the economy. It now holds a record $337 billion in government debt.

A jump in inflation has the market and economists jittery that the RBA may be forced to lift interest rates above its record low of 0.1%.

Inflation figures released last week showed headline inflation was 3.5% in the year to December 31, while underlying inflation – the RBA’s preferred measure – was 2.6%.

In comments this morning, RBA governor Phil Lowe said the central bank is looking on track to achieve its wage growth and inflation targets “for the first time in years”.

But he reiterated that it’s too early to tell whether inflation will remain sustainably within the RBA’s 2-3% target band.


Here are the best performing ASX small cap stocks for February 2 [intraday]:

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Code Company Price % Market Cap
WOO Wooboard Tech Ltd 0.002 100.0% $3,822,163
BCK Brockman Mining Ltd 0.064 39.1% $426,844,678
SHH Shree Minerals Ltd 0.014 27.3% $11,695,606
RBR RBR Group Ltd 0.005 25.0% $5,127,920
AVE Avecho Biotech Ltd 0.016 23.1% $23,891,563
PHO Phosco Ltd 0.14 21.7% $27,749,240
RNU Renascor Res Ltd 0.29 20.8% $454,529,036
HLF Halo Food Co. Ltd 0.13 18.2% $30,150,613
MGV Musgrave Minerals 0.33 17.9% $150,408,426
WIN Widgienickellimited 0.4 17.6% $85,000,000
GWR GWR Group Ltd 0.17 17.2% $44,017,591
KAL Kalgoorliegoldmining 0.17 17.2% $10,503,017
FAR FAR Ltd 0.6025 17.0% $51,392,103
ARE Argonaut Resources 0.0035 16.7% $10,818,614
PGY Pilot Energy Ltd 0.05 16.3% $21,688,783
ICN Icon Energy Limited 0.015 15.4% $9,811,844
CML Chase Mining Limited 0.016 14.3% $6,553,859
SRI Sipa Resources Ltd 0.049 14.0% $8,816,067
NNG Nexion Group 0.165 13.8% $11,635,671
AOU Auroch Minerals Ltd 0.125 13.6% $39,715,698
LDX Lumos Diagnostics 1.06 13.4% $140,762,626
ADV Ardiden Ltd 0.017 13.3% $32,525,030
AUQ Alara Resources Ltd 0.054 12.5% $33,860,603
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Among stocks with news, Avecho Biotech (ASX:AVE) saw itself on the winners list after announcing it had entered into a licensing and supply deal with US-based Team SAAS LLC. The agreement involves Team SAAS to commercialise a recreational cannabis distillate containing Avecho’s TPM product for use in the manufacture of edible cannabis products in the US.

Shree Minerals (ASX:SHH) has announced exploration studies have highlighted strong prospectivity, including for the popular lithium, at its Dundas Project in Western Australia.

The Dundas tenements are considered to be located ideally within a major regional structural corridor containing world-class deposits of lithium along with gold.


Here are the worst performing ASX small cap stocks for February 2 [intraday]:

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Code Company Price % Market Cap
ANW Aus Tin Mining 0.001 -33.3% $19,075,180
EN1 Engage:Bdr Limited 0.0015 -25.0% $6,205,272
CNJ Conico Ltd 0.017 -15.0% $20,004,297
CT1 Constellation Tech 0.006 -14.3% $10,298,403
T3D 333D Limited 0.003 -14.3% $9,814,649
HNR Hannans Ltd 0.043 -14.0% $130,313,574
SUH Southern Hem Min 0.031 -13.5% $8,759,376
AO1 Assetowl Limited 0.0035 -12.5% $3,264,820
CZR CZR Resources Ltd 0.007 -12.5% $27,890,586
GBE Globe Metals &Mining 0.066 -12.0% $34,944,178
CDR Codrus Minerals Ltd 0.11 -12.0% $5,000,000
LPE Locality Planning 0.11 -12.0% $11,610,592
NWM Norwest Minerals 0.062 -11.4% $12,642,511
PSL Paterson Resources 0.031 -11.4% $11,874,051
OAU Ora Gold Limited 0.016 -11.1% $17,684,020
TMK Tamaska Oil Gas Ltd 0.008 -11.1% $8,865,000
PGD Peregrine Gold 0.47 -10.5% $17,641,992
OIL Optiscan Imaging 0.135 -10.0% $92,877,840
CLE Cyclone Metals 0.0045 -10.0% $24,765,629
DXN DXN Limited 0.009 -10.0% $14,713,148
PVW PVW Res Ltd 0.52 -9.6% $39,831,328
ENT Enterprise Metals 0.0135 -9.3% $8,531,697
DCX Discovex Res Ltd 0.01 -9.1% $28,255,305
RMX Red Mount Min Ltd 0.01 -9.1% $16,109,041
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