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    Latest

    A report from Bloomberg citing anonymous sources said South Korean regulators were asked to investigate Phil King’s Regal Funds Management.

    Regal allegedly embroiled in South Korean securities investigation

    The prominent hedge fund told investors in September it was shorting stocks in South Korea, saying it was focused on “one specific bank”.

    • Joshua Peach
    Platypus Asset Management’s head of investment, Prasad Patkar.

    The Aussie stock picks that made this fund a top 10

    Platypus Asset Management’s Prasad Patkar names Reece among the $5 billion money manager’s key investment calls. But he’s wary of BHP’s big M&A bet.

    • Sarah Jones

    Panic sets in as short squeeze rockets copper price

    A violent spike in copper futures traded in New York has caught markets off guard and sent traders scrambling to cover short positions.

    • Alex Gluyas

    Mortgage relief in sight after traders scrap rate rise bets

    A surprise pickup in the unemployment rate has bolstered bets that the next move from the Reserve Bank may be lower. Cooling US inflation data overnight also helped, sending the Aussie dollar to a four-month high.

    • Cecile Lefort

    Shares eye record high on rate cut bets; WiseTech tops $100

    Shares post best day in 2024. Economy adds 38,500 jobs on surging immigration. Bond yields retreat. Copper, gold, bitcoin rally. Follow here.

    • Timothy Moore, Tom Richardson, Joshua Peach, Sarah Jones, Alex Gluyas and Cecile Lefort

    ASX to rise, US benchmarks close at record highs

    Australian shares are set to open higher after data showed US inflation is cooling. $A eyes US67¢; Bitcoin tops $US66,000. Gold rallies.

    • Updated
    • Timothy Moore

    Opinion & Analysis

    Why bad news has the ASX bulls running

    Bad news from the job market turned a good day on the ASX into a great one. Investors are ploughing into market darlings in the firm belief that rate cuts are coming.

    Chanticleer

    Columnist

    Chanticleer

    How inflation relief and Buffett’s new bet gave bull market fresh legs

    Wall Street popped to new record highs on better than feared US inflation data. But there’s a big contradiction at the heart of the bulls’ outlook.

    Chanticleer

    Columnist

    Chanticleer

    Fundies are riding a wave of stimulus. Jim Chalmers just added to it

    Investor bullishness is as strong as it’s been since 2021, but one key question in BoA’s latest fund manager survey particularly resonates after the latest budget.

    Chanticleer

    Columnist

    Chanticleer

    Perpetual’s shrunken shadow casts a pall over public sharemarket

    The shrinking of the active fund manager raises more questions about the future of public markets in a world of private alternatives.

    The AFR View

    Editorial

    The AFR View

    Companies in the News

    BHP Group

    bhp$44.540
     1.02%

    ASX Limited

    asx$63.740
     1.16%

    Macquarie Group

    mqg$193.340
     2.85%

    Qantas

    qan$6.150
     -0.49%

    Perpetual Limited

    ppt$22.400
     0.45%

    Rio Tinto

    rio$130.760
     0.99%

    Updated: May 16, 2024 – 3.58pm. Data is 20 mins delayed.

    Search companies

    View stories and data from an ASX listed company

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    Meet the Fundie

    Emma Fisher is not afraid to ‘lean into’ the markets fear.

    Airlie’s Emma Fisher is making her next big bets

    Mineral Resources and Reece have been career-defining picks. This year, she’s sold down CBA and is going large on one of the most shorted stocks on the ASX.

    • Sarah Jones
    Sage Capital’s Sean Fenton.

    How Sage Capital is making money from other investors’ panic

    Veteran hedge fund manager Sean Fenton has no qualms going against the crowd, buying ResMed after its collapse in 2023.

    • Joanne Tran
    Victoria Hardie is managing director of HMC Capital Partners

    ASX activist HMC Capital takes aim at GrainCorp

    HMC Capital has revealed a position in GrainCorp, marking the group’s fourth public bet from the highly concentrated Capital Partners Fund.

    • Updated
    • Joshua Peach

    More From Today

    Watch out – the bulls are running hard.

    Why bad news has the ASX bulls running

    Bad news from the job market turned a good day on the ASX into a great one. Investors are ploughing into market darlings in the firm belief that rate cuts are coming.

    • 1 hr ago
    • James Thomson
    Warren Buffett’s new position was finally revealed to markets on Wednesday night.

    How inflation relief and Buffett’s new bet gave bull market fresh legs

    Wall Street popped to new record highs on better than feared US inflation data. But there’s a big contradiction at the heart of the bulls’ outlook.

    • James Thomson

    Yesterday

    China has increasingly been shipping its steel overseas as demand from the property sectors continues to falter.

    Citi calls time on iron ore rally as budget bakes in price plunge

    Citi has told investors to “fade the rally” after more signs of weakness in China’s financial sector.

    • Joshua Peach
    Fund mangers are riding a wave of stimulus that is helping buoy sentiment and the market.

    Fundies are riding a wave of stimulus. Jim Chalmers just added to it

    Investor bullishness is as strong as it’s been since 2021, but one key question in BoA’s latest fund manager survey particularly resonates after the latest budget.

    • James Thomson
    The ASX is set to open higher, following a positive lead from New York.

    ASX closes higher; BHP, miners advance, Santos to cut 200 jobs

    Shares end higher after budget as BHP jumps; AACo swings to a loss; Iress reveals data leak; CSR hit by energy costs; Q1 wages cool more than expected.

    • Updated
    • Timothy Moore, Joshua Peach, Sarah Jones, Alex Gluyas and Cecile Lefort
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    Retail stocks will be among the biggest beneficiaries from the budget.

    ASX retail, property stocks to rally from budget boost

    The “inflationary” tones from the federal budget could provide a fresh tailwind for the sharemarket, especially for retail and real estate stocks, according to brokers.

    • Alex Gluyas
    Wall Street.

    ASX to rise, US equities rally on megacap techs

    Australian shares are set to advance. Budget details in focus. Nasdaq resets closing record high. Meme stocks extend surge. Bitcoin struggles.

    • Timothy Moore

    This Month

    GameStop shares soared, sparking a rally in meme stocks, after the surprise return of Roaring Kitty.

    Does Roaring Kitty’s return signal another round of meme-stock mania?

    Shares of GameStop surged on Wall Street after a surprise social media post by Keith Gill, famed for creating a trading frenzy in meme stocks in 2021.

    • Subrat Patnaik and Bailey Lipschultz
    .

    Investors weigh whether to chase China’s new bull market

    The 27 per cent surge in Chinese stocks this year continues to wrong-foot many asset managers, but some are cashing in following a disappointing few years.

    • Alex Gluyas
    Exchange-traded funds continue to be popular with investors seeking a cheap way to diversify their portfolios.

    Australian ETF winners had returns as high as 153pc

    US megacap tech stocks and cryptocurrencies proved profitable investments in the last year, according to the latest top-performing ETF data – alongside some other surprise standouts.

    • Joshua Peach
    Perpetual’s signage being taken down in Sydney. last week

    Perpetual’s shrunken shadow casts a pall over public sharemarket

    The shrinking of the active fund manager raises more questions about the future of public markets in a world of private alternatives.

    • The AFR View
    GameStop’s market capitalisation surged $US4 billion to $US9.3 billion ($14 billion) in a single session after Keith Gill’s cryptic social media post.

    Meme stock stupidity is back at the dumbest possible time

    The $6 billion jump in the value of crappy US retailer GameStop is a sign of pure speculative excess. 

    • James Thomson

    ASX closes lower ahead of federal budget; critical mineral miners jump

    Australian edged down in quiet session ahead of federal budget. Energy and real estate stocks fall. Budget at 7.30pm. US producer prices ahead.

    • Updated
    • Timothy Moore, Joshua Peach, Sarah Jones, Alex Gluyas and Cecile Lefort
    A Qantas Boeing 737 landing at Sydney Airport in February. Since then, short interest in the airline has been climbing.

    Hedge funds are once again targeting Qantas

    Almost $300 million has been bet against Australia’s largest airline, even as it attempts to repair its relationship with customers after selling tickets on flights that were already cancelled.

    • Joshua Peach
    Wall Street.

    ASX to slip, S&P 500 dips as CPI awaited

    Australian shares are set to edge lower with the federal budget in focus. The Dow and S&P 500 edged down, the Nasdaq advanced with price data in focus.

    • Updated
    • Timothy Moore
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    The lower inflation Jim Chalmers forecasts will require a sharper slowdown.

    Investors shouldn’t believe Chalmers on inflation just yet

    For inflation to get back to target by Christmas, more pockets of pain will have to emerge. But the corporate sector is holding up well. 

    • Updated
    • James Thomson
    Some investors are starting to use Nvidia as an inflation hedge.

    Nvidia rivals gold as shield against inflation, survey shows

    The mega cap US tech stocks are not only a bet on innovation but also offer potential protection against inflation, according to some investors.

    • Edward Harrison
    Federal Treasurer Jim Chalmers will hand down his third budget on Tuesday.

    Rate rise still priced in despite Chalmers’ ‘optimistic’ forecasts

    Bond markets are continuing to bet that the RBA will have to lift rates this year, despite new government forecasts predicting inflation will fall faster than the central bank expects.

    • Updated
    • Alex Gluyas
    Macquarie Group took out top spot, again, thanks to a pick-up in transition flow activity.

    Macquarie dominated on-market block trades in April; Goldies dips

    The investment bank’s transition desk was run off its feet, handling a mammoth growth equities transition valued somewhere between $1 billion and $2 billion.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
    Australian shares are poised to start the week lower.

    ASX closes flat, Fletcher, Lendlease drop 

    Shares flat; Fletcher hit by weak housing market; Lendlease disputes ATO claims; Iress in security breach; ANZ investigated by ASIC. Follow updates here.

    • Updated
    • Timothy Moore, Cecile Lefort, Alex Gluyas, Sarah Jones and Joshua Peach