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Pig-Market Down

ASX closed red; Tuas surges on additional 5G spectrum in Singapore; Carnaby Resources released promising lithium soil results.

  • The ASX200 closed 0.28% lower at 7235.90 on Wednesday.
  • Tuas surged 14.5% after acquiring additional 5G spectrum in Singapore.
  • Carnaby Resources rose 14.3% after releasing promising lithium results.

The Australian market overturned Tuesday’s rally to close 0.28% lower at 7235.90 on Wednesday as a rally for metals and mining stocks failed to offset heavy losses for consumer staples stocks.

The tech sector recovered some morning losses in afternoon trade but still ended the midweek session lower as EML Payments tumbled 3.61% while Nearmap lost 2.81%.

Bitcoin is trading 0.07% higher over the last 24-hours at US$56,921.75 at 4:30pm AEDT.

Shares in telecommunications company Tuas continued to surge 14.5% today in the aftermath of the company announcing its acquisition of additional 5G network spectrum in Singapore through its wholly owned subsidiary, TPG Singapore, earlier this week. TPG Singapore has been provisionally awarded 10 MHz of spectrum in the 2.1 GHz band for a price of $31.72m, with a licence duration of 15-years.

Making headlines, Carnaby Resources skyrocketed 14.3% today after reporting promising results at its 100% owned Big Hill Project in the Mallina Basin, Pilbara, WA. The release reported that soil sampling results from the project have highlighted a larke 1.5km by 0.5km lithium soil anomaly, with soil results up to 179 ppm Li.

And Roomba has released a Christmas-friendly update for its robot-vacuum cleaners as the device is now trained to zone in on all pine needles and mess caused from Christmas trees.

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