Top 10 at 11: Real Estate leads ASX up as trade war axes freight volumes

The top 10 movers and shakers on the ASX in Tuesday morning’s trading. The Real Estate sector is currently leading the ASX higher, aided by rising gold prices.

The Real Estate sector is providing a steady foundation for gains on the ASX this morning. 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 data is taken at 10:15, once trading kicks off in earnest.

In brief, this is what the markets have been up to this morning.

US investors unsure which way to jump

It was a flat end to trading after a chaotic day in the US, with markets swinging between a positive higher of +0.5% and a low of -1.0% before settling just about even.

A report that Chinese tech giant Huawei is gearing up to test its fresh, powerful new artificial intelligence chips knocked Nvidia down 2.05%.

Huawei is developing its new semiconductor chip line in direct competition with the US company, seeking to fill gaps left by US restrictions on certain high-tech chips and the equipment necessary to make them.

There was movement in the other major tech stocks ahead of earnings reports to be released over the next few days from Alphabet (-0.87%), Microsoft (-0.18%), Meta (+0.45%) and Apple (+0.45%).

A commitment from IBM to invest US$150b in its US operations over the next five years lifted the FinTech company 1.6%.

The Dow Jones lifted 0.3%, the S&P500 0.1% and the Nasdaq slipped 0.1%.

Things were a little rosier in Europe, with strength in Bank and Healthcare stocks lifting the FTSE300 0.5%. The FTSE100 only managed to notch up 2 points, but lost no ground after gaining the last few weeks.

Gold up, oil continues to tumble

Turning our attention to commodities, gold made a recovery as the US dollar fell, lifting 1.5% to US$3,347 an ounce. The dip in USD lifted copper futures 0.1%, but aluminium fell 0.2% and iron ore eased down just US$0.01 to US$99.91 a tonne.

Oil once again suffered, with Brent shedding 1.5% to US$65.86 a barrel. The trade war has already deeply impacted freight trade.

Bookings for standard 20-foot shipping containers from China to the US were down 45% compared to the year before in April.

Many importers have switched to wait-and-see mode. They're attempting to stockpile what they can and wait out the tariff war for as long as possible to avoid absorbing additional costs.

Consumers in the US have already begun to complain about additional costs from online marketplace Temu, which has passed on tariff taxes in their entirety, raising the cost of traditionally cheap fast fashion goods by 145%. One customer took to social media to complain that a $19 dress was charged at $54.

Chinese manufacturers have begun pausing production and turning to new markets. Many are turning to online advertising outside of the US or domestically within China to offload merchandise directly to retailers and consumers in cheap flash sales.

Beijing has also announced tariff relief measures for companies in the tech, healthcare and aviation sectors.

“Since the beginning of this year, the risks and challenges faced by China’s foreign trade development have increased significantly, especially the unilateral tariffs imposed by the US,” Vice Minister of Commerce Sheng Qiuping said.

“In order to help foreign trade enterprises actively respond to external risks and challenges, we will adhere to a goal-oriented and problem-oriented approach.”

Measures include:

• loan maintenance for small to medium firms
• special credit tools to support export of large equipment
• assistance to diversify into new markets
• reductions to domestic trade costs including rent and streaming fees
• an optimised exchange rate hedging tool for trade firms.

Turning our attention back home, the ASX has lifted 0.3% in the first 15 minutes of trading, led up by a 1.2% uptick in the Real Estate sector. Only three sectors are in the red – Industrials, Consumer Discretionary, and Consumer Staples.

Now, onto our top 10 small cap winners (and laggards) for the morning…

WINNERS

Code	Description	Last	%	Volume	MktCap
DY6	DY6 Metals Ltd	0.155	269%	2238051	$2,117,255
CR9	Corellares	0.003	50%	1223404	$1,269,815
EEL	Enrg Elements Ltd	0.0015	50%	2598009	$3,253,779
RAN	Range International	0.003	50%	270606	$1,878,581
PVT	Pivotal Metals Ltd	0.01	43%	1000000	$6,350,581
ADD	Adavale Resource Ltd	0.002	33%	53068	$3,430,919
MMR	Mec Resources	0.004	33%	250000	$5,549,298
SIS	Simble Solutions	0.004	33%	429710	$2,628,991
HMY	Harmoney Corp Ltd	0.645	28%	6561	$51,491,894
BUY	Bounty Oil & Gas NL	0.0025	25%	249559	$3,122,944

Making news this morning…

A high-grade gallium discovery at the Tundulu project in Malawi has rocketed DY6 Metals (ASX:DY6) shares more than 250% in early trading. The company struck broad intersections of up to 74m at 93.26 g/t gallium, as well as 1.56% total rare earth oxides, with grades peaking at 310.46 g/t gallium and 5.68% TREO over about a metre.

Corella Resources (ASX:CR9) completed a $601,159 placement of shortfall shares from a recent entitlement offer, raising a total of just over $935,000 before costs.

A resource update at Pivot Metals’ (ASX:PVT) Horden Lake project has increased both the copper and gold resource within the pit shell, lifting copper by 70% to 200,000t and gold by 300% to 175,000 ounces.

Simble Solutions (ASX:SIS) increased its cash receipts from last quarter by 20% to $555,000 in its latest quarterly report, also reducing net operating cash expenditure by 62% and inking partnership agreements with several new firms.

LAGGARDS

Code	Name	Price	% Change	Volume	Market Cap
SMX	Strata Minerals	0.018	-40%	3598446	$7,324,455
BIT	Biotron Limited	0.002	-33%	469358	$3,981,738
TMX	Terrain Minerals	0.002	-33%	42342	$6,010,670
AUK	Aumake Limited	0.003	-25%	166666	$12,042,769
HCF	H&G High Conviction	0.28	-20%	2100	$6,792,267
SPQ	Superior Resources	0.004	-20%	424232	$11,854,914
PAB	Patrys Limited	0.0025	-17%	3047500	$6,172,342
SPX	Spenda Limited	0.005	-17%	1154757	$27,691,293
TMK	TMK Energy Limited	0.0025	-17%	542323	$30,667,149
VML	Vital Metals Limited	0.0025	-17%	250165	$17,685,201

Aumake’s (ASX:AUK) 160% improvement in cash receipts since the previous corresponding period wasn’t enough to protect the company from a share dip – AUK has been growing its channels in Chinese ecommerce and brick and mortar stores in China, a market that is suddenly experiencing very high levels of uncertainty.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Top 10 at 11: Real Estate leads ASX up as trade war axes freight volumes