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Australia’s red day saw the country harmonising with most of its counterparts in the Asian region as the ASX200 closed 0.1% down.
Heading towards close, the Japanese Nikkei was down -0.23% while the Hong Kong Hang Seng index was up +2.3%.
The Chinese Shenzhen 50 and Shanghai markets joined the ASX in the red, along with the Indian Nifty 50 index, down -0.24% despite strong gains made intraday.
The sectors closed split, with Industrials taking the biggest hit, down half a per cent. Energy on the other end recovered the most, ending up three quarters of a per cent.
In the green
WA1 Resources (ASX:WA1) gained 25% following positive results from initial metallurgical test work on niobium mineralisation at its Luni Project in Western Australia.
The results indicate high-grade niobium concentrate with low impurities.
WA1 closed the day at $20.30.
Firefly Metals (ASX:FFM) rose 15% after it reported strong copper-gold intersections from its drilling program at the Green Bay Copper-Gold Project in Canada.
High-grade mineralisation extends 460 meters beyond the current Resource boundary.
FFM closed the day at 80 cents.
Strickland Metals (ASX:STK) rose 4.5% on positive drilling results from its Rogozna Gold and Base Metals Project in Serbia.
The company also recommenced drilling at the Medenovac deposit, targeting a maiden Mineral Resource Estimate by early 2025.
STK closed at 11.5 cents.
In the red
Helia and QBE were among the biggest fallers for Wednesday on the ASX, with QBE issuing a guidance downgrade as it announced it would be shutting down operations in North America.
QBE also warned of higher catastrophe claims in May impacting its bottom line; stocks fell -4.8% in mid-afternoon trade.
In a similar vein, insurer Helia, which underwrites some of Commonwealth Bank’s mortgage lending, fell -20.9% as the company revealed CBA wanted to alter a contract that was meant to last until 2025.
HLI closed the day at $3.34.
QBE closed the day at $17.49.
Red 5 Limited (ASX:RED) fell 0.5% on Board and management changes following its merger with Silver Lake Resources.
Luke Tonkin previously Managing Director and CEO of Silver Lake, has been appointed as Managing Director and Chief Executive Officer of Red 5.
All other changes are effective immediately.
RED closed the day at 44.8 cents.
