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Tech-Up-04

ASX closed climbs; BrainChip tanked 10% on new CEO appointment; Woodside is selling 49% of Pluto Train 2 JV.

  • The ASX200 closed 0.28% higher at 7463.50 to start the week.
  • BrainChip tanked 10% after appointing Sean Hehir as new CEO.
  • Woodside rose 1% after announcing sale of 49% stake in Pluto Train 2 JV.

The Australian market started the week in positive territory, closing Monday’s 0.28% higher at 7463.50 as strong gains for consumer discretionary and tech stocks boosted the key index.

The tech sector rally was driven by NEXTDC surging 4.28%, while Megaport added 3.81% and Appen closed the session 2.95% higher.

Bitcoin is trading 1.85% higher over the last 24-hours at US$65,840.79 at 4:30pm AEDT.

Australian-based neural processor tech company BrainChip tanked nearly 10% today after announcing the appointment of a new CEO, Sean Hehir, a proven technology executive with experience in driving revenue growth for tech organisations. Investors may be selling out of BrainChip shares today as they may have hoped for a CEO with more experience in AI or medical technology companies.

Making headlines, Woodside shares jumped 1.12% today after the company reported it has entered into a sale and purchase agreement with Global Infrastructure Partners (GIP) to sell a 49% non-operating participating interest in the Pluto Train 2 Joint Venture. Woodside will retain a 51% participating interest in the Pluto Train 2 Joint Venture and will remain as an operator, while GIP will fund around US$835m of additional construction capex.

And a Woolworths shopper has gone viral on TikTok for sharing a video hack whereby they bought a $3 packet of 12 cinnamon donuts from Woolworths and used their Air Fryer to turn them into churros at home.

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