In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) looks set to end its winning streak. At the time of writing, the benchmark index is down 0.3% to 7,068.4 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Harvey Norman Holdings Limited (ASX: HVN)
The Harvey Norman share price is down 4% to $3.90. This has been driven by the retailer's shares going ex-dividend this morning for its fully franked final dividend of 12 cents per share. Eligible shareholders can now look forward to receiving this payout next month on 13 November.
Link Administration Holdings Ltd (ASX: LNK)
The Link share price is down 3% to $1.30. This morning, this administration services company released an update on the proposed sale of its Link Fund Solutions business. Investors may be disappointed with how long the process is taking. Management now expects the scheme meeting to take place in two months.
Lithium Power International Ltd (ASX: LPI)
The Lithium Power International share price is down 5% to 39.5 cents. After the market close on Thursday, this lithium explorer reconfirmed that it is in takeover talks with Chilean mining giant Codelco. However, it dismissed speculation that a deal has been agreed valuing the company at 50 cents per share. It called this figure "incorrect."
ResMed Inc (ASX: RMD)
The ResMed share price is down over 2% to $21.65. Investors have been selling this sleep treatment company's shares following positive trial results for weight loss drug Ozempic in the treatment of chronic kidney disease. While kidney disease has no direct link to ResMed, investors appear concerned that the increased use cases of Ozempic could lead to government and health insurance companies offering better reimbursements or coverage. The high costs of Ozempic were expected to prevent true mass adoption.
