Today marks a historic moment in the history of Australia’s $3 trillion superannuation system.

As part of Morrison government’s emergency response to the coronavirus pandemic, eligible citizens have been given the all-clear to tap their retirement nest egg early.

Tax-free cash top-ups of up to $10,000 are now on the cards for local residents who meet the criteria.

The offer is limited primarily to those who are unemployed or eligible for the JobSeeker allowance. Eligible participants can also apply for a further $10,000 in the 2020/21 financial year.

The measure has been met with some concern from industry groups about whether it could spark a liquidity crunch, particularly for funds with a higher percentage of members who work in sectors that have been hit hardest by the lockdowns.

For now though, applications for the FY20 payment are open until 30 June, with thousands of Australian expected to apply.

On markets, it’s been a cautious start to the week after a strong rally in April on the back of major government stimulus (similar to the one above) worldwide.

Heading into midday trade, the ASX200 was down 1.54 per cent at 5,401.30, while the Small Ords Index was two per cent lower at 2,302.50.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday April 20:

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CODE COMPANY PRICE % CHANGE MARKET CAP
RLG Roolife Group Ltd 0.041 192.86% $13.6M
CFE Cape Lambert Resources 0.002 100.00% $2.5M
XPE XPED 0.002 100.00% $1.8M
TMR Tempus Resources 0.2 60.00% $8.1M
SE1 Sensera 0.015 50.00% $4.5M
RFN Reffind Ltd 0.002 50.00% $1.0M
MYQ MyFiziq Ltd 0.17 47.83% $18.1M
REE Rarex Ltd 0.025 47.06% $7.8M
DAF Discovery Africa Ltd 0.014 40.00% $2.6M
MTH Mithril Resources 0.007 40.00% $3.4M
ZEN Zenith Minerals Ltd 0.059 34.09% $151.6M
CRO Cirralto 0.004 33.33% $3.3M
CE1 Calima Energy 0.004 33.33% $8.6M
RDM Red Metal Ltd 0.07 32.08% $14.9M
OSX Osteopore 0.6 27.66% $62.3M
SFG Seafarms 0.063 26.00% $145.2M
1AD Adalta 0.064 25.49% $10.5M
KYK Kyckr 0.094 25.33% $22.1M
88E 88 Energy 0.007 25.00% $49.8M
GBR Great Boulder Resources Ltd 0.036 24.14% $4.8M

Microcap e-commerce play RooLife Group (ASX:RLG) was the big winner in morning trade — more evidence that positive news out of China remains a strong investment narrative.

The company announced that it’s become a marketing partner for AliPay, the payments platform which is a subsidiary of Chinese e-commerce behemoth Alibaba.

Shares in RLG promptly bounced more than 100 per cent to a new 2020 high of 3.5 cents.

A number of junior miners were also on the winner’s list, by virtue of their operations’ proximity to the high-grade nickel-copper-palladium discovery uncovered by Chalice Gold Mines’ (ASX:CHN) in March. Stockhead’s Reuben Adams has more here.

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday April 20:

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

CODE COMPANY PRICE % CHANGE MARKET CAP
AL3 Aml3d 0.13 -35.00% $10.2M
UUV UUV Aquabotix 0.001 -33.33% $682K
ICG Inca Minerals Ltd 0.001 -33.33% $4.1M
SP3 Spectur 0.056 -30.00% $4.3M
WRM White Rock Minerals Ltd 0.003 -25.00% $5.6M
XCD Xcd Energy 0.004 -20.00% $2.8M
FAM Family Insights Group 0.02 -20.00% $1.3M
ADD Adavale Resources Ltd 0.017 -19.05% $2.9M
MGU Magnum Mining and Exploration Ltd 0.04 -18.37% $14.9M
TTM Titan Minerals Ltd 0.055 -17.91% $41.9M
HT8 Harris Technology 0.047 -17.54% $8.8M
CM8 Crowd Mobile 0.024 -17.24% $7.0M
ADY Admiralty Resources 0.005 -16.67% $5.8M
DW8 Digital Wine Ventures 0.005 -16.67% $5.8M
MBK Metal Bank Ltd 0.005 -16.67% $4.4M
HWK Hawkstone Mining 0.005 -16.67% $5.1M
ADX Adx Energy Ltd 0.005 -16.67% $8.5M

ASX debutante AML3D (ASX:AL3) briefly slipped from its 15c listing price when it joined the boards at 11am. The 3D metal printing company completed a $9m IPO, underpinned by a 5.3 per cent investment from Perennial Value Management.

And ecommerce platform Harris Technology (ASX:HT8) eased back in morning trade, but the falls only slightly offset Friday’s gain of 200 per cent after the company announced some positive distribution news for a new range of protective hygiene products.