Attack of the shorts: an aggressive tool to influence companies
While shorting had long been a reality of how sophisticated investors play the market in Australia, it has of late turned brasher, louder, and far more aggressive.
Myriam Robin is a markets reporter based in the Financial Review's Melbourne newsroom.
While shorting had long been a reality of how sophisticated investors play the market in Australia, it has of late turned brasher, louder, and far more aggressive.
Banks helped power the Australian sharemarket to a weekly gain of 1.9 per cent, its biggest this year.
Shares rose for a third straight session, pushing the benchmark stock index within striking distance of 5900 points.
With Wall Street defying gravity, most are looking elsewhere for value but some investors are still drawn to the US market.
The ASX surged to its highest close in two years on Tuesday, thanks to a strong performance by the big banks.
With US equity markets deemed ripe for a correction, an increasing number of global fund managers are eyeing European stocks.
The ASX recovered throughout the day to almost entirely recover the early trade losses.
Sharp-eyed investors are buying up stocks ahead of their inclusion in key stock indexes on expectations the onslaught of passive funds will boost prices, Citi says.
The Australian sharemarket ended the week on a positive note, closing 0.8 per cent higher on Friday.
Australia's property market is booming but in the eyes of foreign buyers it is still relatively cheap, and a new Credit Suisse report shows demand remains strong.
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