Lunchtime ASX small cap wrap: Who’s paying a fortune for pork today?

Link copied to
clipboard

If you thought Hong Kong was the biggest crisis facing China, think again. Pork prices in China are up 46.7 per cent from a year ago.

But don’t trust that statistic, trust the latest viral meme on Chinese social media – a necklace made of pork belly.

With the Mid-Autumn festival due in a few weeks the problem is anticipated to get worse before it gets better.

Today on the markets, the ASX Small Ords up 0.32 per cent to 2,882 points while the ASX 200 is up 0.19 per cent to 6,627 points.

However, Westpac-Melbourne Institute consumer confidence fell 1.7 per cent in the last month. Despite the majority of households receiving tax refunds up to 78 per cent, consumers plan to save either more than half or all of it.

Westpac chief economist Bill Evans reaffirmed his belief that the RBA would cut rates when it next met in October and again in February.

Going up

Today’s winners showed the wonders of what a giant can do for a minnow.

Red Sky Energy (ASX:ROG) went ballistic this morning after sealing a farm-in deal with Santos. It surged as high as 300 per cent and is currently up 166 per cent.

CardieX (ASX:CDX) gained 38 per cent on the signing of a deal with Mobvoi (Google’s official operating partner in China) to co-develop consumer wearables.

Here are the best performing ASX small cap stocks at lunchtime, Wednesday September 11:

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

Going down

Big Star Energy (ASX:BNL) fell back sharply from recent highs, dropping more than 50 per cent after confusion in the market regarding its helium strategy and recent results.

Here are the worst performing ASX small cap stocks at lunchtime, Wednesday September 11:

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

share

• 
• 
• 
• 

Link copied to
clipboard

SUBSCRIBE

Get the latest Stockhead news delivered free to your inbox.

Name*

Email*

Hidden

Email Lists

Morning Update

Lunch Update

Market Close Update

Weekend Update

It's free. Unsubscribe whenever you want.

By proceeding, you confirm you understand that we handle personal information in accordance with our Privacy Policy.