Top 10 at 11: ASX up again as Trump shows softening stance on China

The ASX opened higher on Thursday, as US President Donald Trump appears to soften stance on China in trade negotiations.

Markets are looking optimistic amid US-China trade war unwind. Pic: Getty Images

Morning, and welcome to Stockhead’s Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading.

With the market opening at 10am sharp eastern time, the top 10 data is taken at 10.15am, once trading kicks off in earnest.

The S&P/ASX 200 was up 0.42% as of 10.50am AEST, tracking strong gains on Wall Street overnight as US President Donald Trump showed a softening stance on China tariffs.

The tech-heavy Nasdaq index climbed 2.5%, the S&P 500 index was up 1.7% and the Dow Jones rose 1%.

US 10-year bond yields settled flat at ~4.39%

Among commodities, global benchmark Brent crude is trading higher at ~$US66 per barrel, while gold is up to trade at  $US3330.74 per ounce. Iron ore is trading at $US100.09 per tonne.

Cryptocurrency giant bitcoin remains above $US93,000, while the Aussie dollar is trading ~US64c.

Back on the local bourse, nine of the 11 sectors opened in the green with materials leading the gainers, up 1.06%, followed by tech (+0.6%). Energy was down 1.49%, followed by consumers staples (-0.69%).

WINNERS

Code	Description	Last	%	Volume	MktCap
TKL	Traka Resources	0.002	100%	848,136	$2,125,790
88E	88 Energy Ltd	0.0015	50%	145,714	$28,933,812
GMN	Gold Mountain Ltd	0.002	33%	423,044	$7,193,970
RLG	Roolife Group Ltd	0.005	25%	600,000	$5,984,125
TNC	True North Copper	0.235	21%	228,758	$24,538,608
AUR	Auris Minerals Ltd	0.006	20%	8,787,422	$2,383,130
AZL	Arizona Lithium Ltd	0.006	20%	8,690,937	$22,809,073
KPO	Kalina Power Limited	0.006	20%	339,656	$14,471,099
LIT	Livium Ltd	0.01	18%	5,217,045	$14,369,311
AVR	Anteris Technologies	6.58	17%	4,177	$86,519,608

Gold Mountain (ASX:GMN) is up 33% in morning trade after reporting four significant copper-gold anomalies have been identified, extending across a 20 km north-south corridor at its Ararenda Project, in northeast Brazil.

GMN said the anomalies were in partly derived from a known iron and copper mineralised zone underlain by a major IP anomaly that extends into GMN tenements.

Livium (ASX:LIT) is up 18% after announcing that its wholly-owned subsidiary Envirostream Australia had signed a new battery recycling agreement on a subcontractor basis with Sell & Parker Pty Ltd.

"This agreement with Sell & Parker has the potential to be Envirostream’s largest ever recycling contract on a revenue basis,"CEO and managing director Simon Linge said.

LOSERS

Code	Name	Price	% Change	Volume	Market Cap
ADD	Adavale Resource Ltd	0.001	-50%	2,799	$4,574,558
CR9	Corellares	0.002	-33%	2,994,561	$1,904,722
CRR	Critical Resources	0.003	-25%	1,126,789	$9,856,885
RGL	Riversgold	0.004	-20%	750,100	$8,418,563
MKL	Mighty Kingdom Ltd	0.005	-17%	200,000	$1,932,303
DTZ	Dotz Nano Ltd	0.06	-14%	61,040	$39,642,907
IBX	Imagion Biosys Ltd	0.012	-14%	16,575	$2,818,780
GT1	Green Technology Metals	0.033	-13%	1,091,144	$14,772,580
OLH	Oldfields Holdings	0.04	-13%	63,662	$9,800,720
GDG	Generation Development Group	4.22	-13%	1,189,330	$1,875,886,254

Financial services company Generation Development Group (ASX:GDG) is down 13% in morning trade after releasing its March quarter update, which included FUM of $26.8 billion for Evidentia Group.

The company said it had  further strengthened its leadership in the investment bonds market, reaching $3.95bn in FUM, up 23% on PCP, and achieving record quarterly inflows of $239m, up 55%.

In his address to shareholders former Aussie swim star and GDG CEO Grant Hackett said the company delivered a strong performance in the March quarter, with all businesses contributing to growth despite continued market volatility.

"The group remains well-positioned with a robust financial profile, strong net inflows, and clear strategic momentum," Hackett said. 

Originally published as Top 10 at 11: ASX up again as Trump shows softening stance on China