Closing Bell: Tech sell off leads the ASX down 0.7pc

The ASX tech sector succumbed to the latest selloff in tech equities globally. dragging the rest of the bourse down with it.

The ASX 200 retreated 0.7% to close at 7,379 points while the ASX Emerging Companies Index lost 1.06%, closing at 2,181.

A sell off on Wall Street and Shanghai was triggered by fears of a regulatory clampdown by the Chinese government sparked by rulings that private education businesses could no longer make profits or raise capital.

This resulted in falls of over 3.5% in Hong Kong, Shanghai and Shenzen yesterday and although the ASX escaped the worst yesterday, the impact appeared to have been delay to today as tech shares fell 2.13%.

The only sector in positive territory was property trusts, which rose 0.83%. The other major laggard was resources, which lost 1.41%.

TODAY’S BIGGEST WINNERS

Scroll or swipe to reveal table. Click headings to sort.

Stocks highlighted in yellow rose (or fell) after making announcements during intraday trade.

Code	Company	Price	%	Volume
OAK	Oakridge	0.0015	50	25008
IKW	Ikwezi Mining Ltd	0.26	30	24873
MCM	Mc Mining Ltd	0.145	26	791129
GSN	Great Southern	0.057	24	843184
A3D	Aurora Labs Limited	0.115	24	8489671
CMM	Capricorn Metals	2.25	23	4450227
VN8	Vonex Limited.	0.15	20	3246902
CGB	Cann Global Limited	0.006	20	1342435
VPR	Volt Power Group	0.003	20	4406208
S66	Star Combo	0.34	19	86768
GTE	Great Western Exp.	0.165	18	170957
OBM	Ora Banda Mining Ltd	0.15	15	1403760
EMH	European Metals Hldg	1.67	15	738852
GMN	Gold Mountain Ltd	0.023	15	8510303
TAS	Tasman Resources Ltd	0.033	14	3380669
BPP	Babylon Pump & Power	0.017	13	4164259
THR	Thor Mining PLC	0.017	13	2872648
WSI	Weststar Industrial	0.034	13	88949783
SBR	Sabre Resources	0.0045	13	2500000
STK	Strickland Metals	0.055	12	6693005
AVE	Avecho Biotech Ltd	0.019	12	603089
OPN	Oppenneg	0.3	11	539063
PAM	Pan Asia Metals	0.15	11	18500

Additive manufacturer Aurora Labs (ASX:A3D) announced it had engaged with BAE Systems Maritime Australia to perform test printing for its Hunter Class Frigate Program – which is building new ships for the navy to replace the current fleet.

Engineering firm Weststar Industrial (ASX:WSI) won a $145 million contract for Fortescue’s Iron Bridge Magnetite project.

Companies climbing off the back of quarterlies included Vonex (ASX:VN8) and Babylon Pump & Power (ASX:BPP).

TODAY’S BIGGEST LOSERS

Code	Company	Price	%	Volume
YPB	YPB Group Ltd	0.001	-50	701000
AIB	Aurora Glb Trust	0.21	-38	166695
TSO	Tesoro Resources Ltd	0.115	-26	25234335
TRN	Torrens Mining	0.215	-22	6454923
SIH	Sihayo Gold Limited	0.009	-18	5628256
AIQ	Alternative Invest	0.115	-18	8702
CHZ	Chesser Resources	0.12	-17	328000
OVT	Ovato Limited	0.0025	-17	7501500
ZNO	Zoono Group Ltd	0.66	-16	1391183
KEY	KEY Petroleum	0.003	-14	6861337
RBR	RBR Group Ltd	0.006	-14	3070995
CLA	Celsius Resource Ltd	0.031	-14	2520069
ESS	Essential Metals Ltd	0.13	-13	744834
SPA	Spacetalk Ltd	0.205	-13	324207
AO1	Assetowl Limited	0.007	-13	5149038
AUQ	Alara Resources Ltd	0.014	-13	61519
GES	Genesis Resources	0.014	-13	55000
MRD	Mount Ridley Mines	0.0035	-13	5333987
MML	Medusa Mining Ltd	0.805	-13	2003899
TTM	Titan Minerals	0.105	-13	1389974
IPB	IPB Petroleum Ltd	0.021	-13	50000
DTR	Dateline Resources	0.092	-12	1335666

Joint venture partners Coda Minerals (ASX:COD) and Torrens Mining (ASX:TRN) fell after the latest update from their IOCG project in South Australia

Tesoro Resources (ASX:TSO) dropped after defining its maiden Mineral Resource for the Ternera gold deposit at its El Zorro project in Chile.

ANNOUNCEMENTS YOU MAY’VE MISSED

Renu Energy (ASX:RNE) and its investee company Uniflow Power announced it would be hiring consultants to investigate the potential to generate carbon credits from emissions offset by Uniflow’s technology. The company says demand for voluntary carbon credits could rise by a factor of 15 or more by 2030 as companies seek to meet climate change goals.

Eden Innovation (ASX:EDE) announced it sold just over $1 million worth of its fuel system OptiBlend in the first four weeks of July. Eden credited the boost to the upturn in the oil and gas sector as well as companies’ concern about power outages due to extreme weather.

Antiviral technology specialist Nanoveu (ASX:NVU) announced results of a 5 month study by Nestle Research depicting its Nanoshield product was effective against SARS-CoV-2. Nanoveu declared the study meant Nanoshield was now “one of the most economical options to deliver protection and peace of mind”.

Sky and Space (ASX:SAS) released its quarterly telling shareholders the deadline for automatic removal was currently August 8. The company said it “continues to work with ASX towards the reinstatement of its ordinary shares to quotation”.

Rox Resources (ASX:RXL) and the ASX have pencilled in August 10 as the date for the IPO of spin off company Cannon Resources. Cannon will own Rox’s non-core nickel and base metal assets at Fisher East and Collurabbie.