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ASX closed sharply lower; BrainChip rocketed 12.4% on US patent; NiCo Resources soared 80% on debut

  • The ASX200 closed 1.03% lower at 7332.50 points on Wednesday.
  • BrainChip skyrocketed 12.4% after receiving US patent approval.
  • NiCo Resources soared 80% on its ASX debut following IPO raising $12m.

The Australian market extended its losing streak into Wednesday, closing the midweek session 1.03% lower at 7332.50 as investors sold out of risky assets like tech stocks.

The tech sector tumbled 2.56% today as Megaport plummeted 16%, NOVONIX fell 9.11% and Codan lost 4.49%.

Bitcoin is trading 1.37% lower over the last 24-hours at US$41,789.20 at 4:30pm AEDT.

BrainChip’s success continued into Wednesday as the AI tech company rocketed a further 12.4% today after announcing its neuromorphic artificial intelligence chips received a patent in the US.

Making headlines, NiCo Resources soared 80% today on its ASX debut. Following an IPO at $0.20/share raising $12m, shares in the mineral exploration and development company popped 80% to close its debut session at $0.36/share.

And KFC has partnered with Beyond Meat to create Beyond Fried Chicken nuggets as a plant-based alternative to the original KFC fried chicken which has come at a crucial time as a chicken shortage crisis plagues fast-food chicken providers around the world.

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