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Australian stocks have dropped with resource stocks pulling the All Ords down 26.8 points or 0.5% to 5901.5.
This follows Brent crude falling 5.3% to US$55.95 and fears for further falls in iron ore prices.
The Materials Index was down 1.3% to 9152.3.
() is down 1.6% to $30.25 while () fell 3.9% to $1.87.
Newcrest () dropped 0.8% to $14.12 and (ASX:RIO) is down 0.7% to $56.59.
Market Action here…
() jumped 62.9% to $0.145 with more than 22.8 million shares traded.
The company exercised an option to acquire Artificial Intelligence technology company BrainChip Inc after completing all material aspects of due diligence.
Artificial intelligence is one of the last bastions of codes to crack in replicating the neural behaviour of a biological brain.
BrainChip would seem to have a good chance of success based on its technology that appears faster and more power efficient compared to the world’s fastest computers performing neural computing today.
That the technology has been in development for 10 years and is endorsed by world leading neuroscientists and its automated learning hardware appears ahead of a talented field.
The potential applications for the technology is across so many verticals are breathtaking including smartphones robotics prostheses (including ear &; eye implants) toys gaming driverless vehicles and drones.
Other companies have also made gains of 10% or more.
() is up 12.7% to $0.40 with more than 13.6 million shares traded while () climbed 11.1% to $0.30.
Blue Chip Stocks
Oil and Gas
Oil Search () down 0.4% to $7.61
() down 0.3% to $7.39
() down 2.6% to $34.15
Big 4 banks
ANZ Bank (ASX:ANZ) down 0.5% to $36.62
() down 0.2% to $93.85
() down 0.2% to $39.38
() down 0.6% to $39.52
Other banks financials and industrials
() down 0.3% to $6.58
() up 1.0% to $14.08
Bendigo and Adelaide Bank () up 0.8% to $12.40
() up 0.6% to $79.70
Suncorp () down 0.4% to $13.38
() down 0.8% to $6.27
Retailers
JB Hi-FI () down 1.6% to $19.00
() down 0.3% to $43.72
Woolworths () flat at $29.05
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