The S&P/ASX 200 Index (ASX: XJO) is starting the week in the red. In afternoon trade, the benchmark index is down 0.7% to 8,179.9 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Brainchip Holdings Ltd (ASX: BRN)
The Brainchip share price is down a further 6% to 24 cents. Investors have been selling this struggling semiconductor company's shares since the release of its quarterly update late last month. That update revealed yet another three months of pitiful cash receipts. Brainchip pulled in under US$150,000, which wouldn't be too bad if it had a $10 million market capitalisation. However, Brainchip currently trades with a market capitalisation of $476 million. It remains to be seen just how long its patient shareholders will give the company before finally giving up on it.
Helia Group Ltd (ASX: HLI)
The Helia Group share price is down almost 6% to $4.74. This morning, Goldman Sachs responded to the lenders mortgage insurance provider's quarterly update by retaining its neutral rating with a $3.93 price target. This implies potential downside of 17% from current levels. The broker said: "[G]rowth in new business remains challenging as evident with the loss of CBA's supply serviced contract, and v) the continuation of benign conditions in the housing market adds to the propensity for mortgage lenders to self-insure (demand lower pricing) which would be at the expense of HLI's future revenue growth."
Reliance Worldwide Corporation Ltd (ASX: RWC)
The Reliance Worldwide share price is down 1.5% to $4.13. This has been driven by the release of the plumbing parts company's trading update this morning. Management advised that it now expects Americas FY 2025 external sales to be at the lower end of its guidance range. And in relation to actions being undertaken to mitigate US tariffs, the company advised that it "expects that the net cost impact of tariffs on FY26 operating earnings (EBITDA) will be in the range of US$25 million to US$35 million."
Westpac Banking Corp (ASX: WBC)
The Westpac share price is down 2.5% to $32.57. The catalyst for this has been the release of the banking giant's half year results. Westpac reported a pre-provision profit before one-offs of $5.3 billion, down 2% on the prior period. This fell short of the $5.422 billion that Macquarie was forecasting for the half. One positive, though, was that despite its softer profits, the Westpac board elected to keep its dividend flat from the prior half at a fully franked 76 cents per share.
