S&P/ASX 200 (INDEXASX:XJO) has dipped further from its nine-month peak but is still on track for another positive week.
The index is set for a significant monthly gain of about 10.5% despite a 0.67% fall to 6592 points by 1.34 pm today.
Financials, materials, energy and healthcare sectors were leading the losses today with only communications and property sectors improving.
The big four banks are all in negative territory with ANZ Bank (ASX:ANZ) falling the most, down 1.72%.
Chinese anti-dumping duty on Australian wine
The world’s largest listed winemaker, Treasury Wine Estates (ASX:TWE), halted trading until Tuesday as AFP reported that China has imposed anti-dumping measures on Australian wine.
#UPDATE China imposes anti-dumping measures on Australian wine.
China – Australia’s biggest trade partner – has threatened retaliation since Canberra called for an inquiry into the Covid-19 pandemic, and has already suspended some timber and beef importshttps://t.co/NF8YYDhTsS pic.twitter.com/2dVRuJUQuT
— AFP News Agency (@AFP) November 27, 2020
Importers bringing in investigated products will need to pay deposits to China’s customs authority, which will be calculated based on different rates the authority has assigned to various companies, according to a statement by China’s commerce ministry.
Treasury Wine is required to pay a rate of 169.3%, the highest among all the named wine firms in the statement.
Top gainers
Today’s top gainers on the ASX include Creso Pharma Ltd (ASX:CPH) (+12.50%), Calima Energy Ltd (ASX:CE1) (+14.29%), Strategic Elements Ltd (ASX:SOR) (+14.81%), Ironbark Zinc Limited (ASX:IBG) (+8.70%), Lake Resources N.L. (ASX:LKE) (+14.52%), Walkabout Resources Ltd (ASX:WKT) (+14.29%) and Linius Technologies Ltd (ASX:LNU) (+7.89%).
Proactive news headlines:
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Boadicea Resources expands exploration into prolific Ravenswood gold district of Queensland
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Walkabout Resources advances approval of Lindi Jumbo debt funding facility
Walkabout Resources Ltd (ASX:WKT) has executed a non-binding, conditional term sheet for a US25 million debt facility in favour of Lindi Jumbo Ltd from the African Export-Import Bank (Afreximbank).
Lotus Resources restart plan for Kayelekera Uranium Project in Malawi gets lift with $5 million placement funding
Lotus Resources Limited (ASX:LOT) has received binding commitments to raise $5 million before costs to fund the restart study of its Kayelekera Uranium Project in Malawi and for near-mine exploration potentially increase the existing 37.5 million pounds uranium resource.
Perseus Mining set to deliver material organic growth at each of its three West African operations
Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) has several exciting exploration programs planned to roll out across its West African properties, most notably at Yaouré, as it looks to deliver material organic growth at each of its three operating sites.