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The ASX200 has been down 0.6% at 8,375 points in afternoon trade.
The index has been tracking towards its lowest daily close in a fortnight on the back of a fall on Wall Street overnight.
Banks are leading the bourse lower, but Miners are rising in reaction to China’s plans for fiscal and monetary stimulus.
Materials has been the best performing sector, up 2.8%, followed by Energy, up 1.1% and Staples, up 0.5%.
The Information Technology sector has been hammered, down 4.5%, followed by Financials, down 1.9% and Discretionary, down 1.5%.
Company News
Fortescue (ASX:FMG) has been up 6.3% on news China is planning to pump more stimulus into its economy.
Fortescue has been $20.45.
Radiopharm Theranostics (ASX:RAD), has been down 17% on completion of a comprehensive preclinical data package. The studies indicate positive safety and biodistribution profiles, validating the potential of the radiotherapeutic for first-in-human trials. The results did not meet investor expectations, and the stock was aggressively sold off.
Radiopharm Theranostics has been 3.4 cents.
Brainchip (ASX:BRN) has been up 11.3% after being awarded a contract for US$1.8M from Air Force Research Laboratory (AFRL) on neuromorphic radar signaling processing. The US government funds research and development to support government missions.
Brainchip has been 24.5 cents.
