The S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and is edging lower. At the time of writing, the benchmark index is down 0.1% to 7,502.7 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Afterpay Ltd (ASX: APT)
The Afterpay share price is down a further 2.5% to $82.82. This follows yet another pullback in the Block (Square) share price overnight. The Block share price has now lost 22% of its value since this time last month. This is reducing the value of the all-scrip takeover proposal that Afterpay shareholders recently approved.
Healius Ltd (ASX: HLS)
The Healius share price is down over 3% to $5.34. This decline could be due to the growing emphasis on using rapid antigen tests for COVID-19. Healius has been a huge winner from COVID-19 testing over the last 18 months but could see the current sky high volumes ease in the coming weeks as rapid antigen tests begin to rollout.
IDP Education Ltd (ASX: IEL)
The IDP Education share price is down 5% to $33.89 despite there being no news out of the language testing and student placement company. However, investors may be concerned that the significant rise in Omicron cases globally could have a negative impact on its businesses.
Transurban Group (ASX: TCL)
The Transurban share price is down 1.5% to $13.72. The catalyst for this has been the toll road operator's shares trading ex-dividend this morning for its interim dividend. When a share trades ex-dividend it means that new buyers will not be entitled to an upcoming dividend. As a result, a share price will usually drop in line with the dividend to reflect this. Transurban will now pay eligible shareholders a 15 cents per share dividend on 22 February.
