After treading water since the start of September, the ASX 200 took a dive in Thursday trade to finish 1.90% lower.

Stocks lost ground at the opening bell and kept falling throughout the day, with steady falls across the board.

Local stocks tracked what was a bearish session across Asian markets, as the Hang Seng index in Hong Kong also fell more than 2%.

Things got especially wobbly about an hour out from the close of trade, when the ASX 200 looked on track to eclipse its biggest fall of the year — a 2.35% drop on February 26 — before some buyers stepped in.

Emerging jitters about China’s property market gathered momentum, as major Chinese property developer Evergrande slumped by another 11% after going in and out of trading halts at the beginning of the week.


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Despite the broader market selloff, there were still a number of outsized small cap gains for stocks that posted new market-moving announcements.

Leading the pack was medtech company Adherium (ASX:ADR), which jumped 30% at the opening bell and finished around 60% higher.

The gains followed news that ADR received approval from US health regulators to market its the Hailie Sensors — devices that attach to a patient’s asthma or medication inhaler to allow caregivers to provide advanced patient monitoring.

Investors also got bullish on semiconductor technology company Weebit Nano (ASX:WBT), after signing a production deal with US-based semiconductor foundry SkyWater Technology.

The deal will see SkyWater incorporate WBT’s ReRAM technology into its production processes, with future revenue opportunities based on how may SkyWater customers take up the products.


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Among stocks with news, junior explorer Great Northern Minerals (ASX:GNM) led the laggards, after updating the market on assay results from the recent reverse circulation drilling program at its Camel Creek gold project in North Queensland.


Factor Therapeutics (ASX:FTT) held an EGM this afternoon to vote on entering a new life as a calcium limestone company called Dominion Resources. The company says it hopes for a JORC-compliant mineral resource estimate by the end of this year and hopes to relist by mid-October.

Senex Energy (ASX:SXY) and New Century Resources (ASX:NCZ) signed a new gas sales agreement. The deal provides for 7 petajoules of natural gas over 3 years to power the Century zinc mine in north west Queensland and is the tenth major natural gas supply agreement announced by Senex since 2019.

Argonaut Resources (ASX:ARE) announced it has acquired a substantial package of uranium assets in South Australia and the NT. It is planning to spin them out in an IPO which could see Argonaut shareholders receive an in-specie distribution of shares.

Indoor Skydive (ASX:IDZ), is opening its fourth Virtual Reality game venue at Sydney’s Macquarie Centre. It will open in late November and the company expects currently locked down Sydneysiders to come in droves come the summer school holidays.

TerraCom (ASX:TER) is expecting revenue of $178 per tonne from its coal project in Queensland. The company says coal prices are at levels not seen since mid-2008 and are expected to remain solid throughout FY22.


Superior Resources (ASX:SPQ) – capital raising
Forbidden Foods (ASX:FFF) – acquisition and capital raising
Aston Minerals (ASX:ASO) – exploration update

EQ Resources (ASX:EQR) – capital raising
Sprintex (ASX:SIX) – product development and sales agreement
Accelerate Resources (ASX:AX8) – capital raising
Raiden Resources (ASX:RDN) – acquisition
Hazer Group (ASX:HZR) – capital raising
Comet Ridge (ASX:COI) – capital raising
VEEM (ASX:VEE) – capital raising
Bastion Minerals (ASX:BMO) – capital raising
Kingwest Resources (ASX:KWR) – exploration update
Neuren Pharmaceuticals (ASX:NEU) – capital raising