ASX Market Close: Iron Ore falls after China stimulus disappoints investors | October 8, 2024

The Market Herald10-08

The ASX200 closed down 0.35% at 8,176 points. Iron ore prices fell from US$114/tn to US$108/tn in Singapore on news the Chinese government’s stimulus will focus more on boosting domestic spending. ...

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It’s the first international approval of the product outside of Australia and New Zealand.\nOrthocell closed at 51.5 cents.\nMongolia-based microcap energy explorer TMK Energy (ASX:TMK) jumped in intraday trade after kicking off a fresh round of drilling at its Mongolian gas project in the Gobi desert.\nTMK Energy closed at $0.002.\nAI-based defence technology play Droneshield (ASX:DRO) closed up 1.13% on news of a $13.5 million contract with the US government for its proprietary counter drone systems.\nDroneshield closed at $1.34.\nIn the Red\nTechnologyOne (ASX:TNE) closed down 2.4% after Goldman Sachs downgraded the stock to neutral, but with an improved price target of $24.05.\nTechnologyOne closed at $24.01.\nElixir Energy (ASX:EXR) closed down more than 58.79% after flowing gas from 5 of 6 zones at its Daydream 2 well, but at rates that disappointed the market.\nThe company is all but guaranteed to become a future gas producer, however it has vastly failed to match gas flow rate expectations held by HotCopper users.\nElixir Energy closed at 6.8 cents.\nAkora Resources (ASX:AKO) closed down 3.57% on company reports the mining minister of Madagascar expressed support for the Bekisopa iron ore project in late September.\nAkora Resources closed at 13.5 cents.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2473416455"}