Good morning, and welcome to another day of ASX 200 live coverage. The market is set for a volatile session as global tensions and economic uncertainties continue to impact investor sentiment. Here's a breakdown of the key developments and my thoughts on what they mean for the market.
QuickFee Lifts Australian Finance TTV 40%
QuickFee, a $25 million market microcap lender, has reported a 40% increase in Australian loan origination (TTV) to $25.1 million, with legal disbursement funding up 134% to $7.5 million. This growth is attributed to an increased debt facility limit of $60 million from $45 million. The company's FY26 normalised revenue is expected to be $16.8 million, stable on a pro forma basis, with AU Finance revenue up 11% to $12.1 million. The FY26 EBTDA guidance remains at $3.75m-4.25m, with a NIM of 15.3% for the year. Personally, I find this growth particularly interesting, as it indicates a strong performance in the Australian finance sector. However, I am curious to see how the increased debt facility limit will impact the company's risk profile and long-term sustainability.
Hub24 Lifts Total FUA to Record $164.3bn
Hub24 has closed FY26 with record annual platform net inflows of $18.9 billion and total funds under administration of $164.3 billion. The total FUA is up 20% to $164.3 billion, comprising Platform FUA of $139.5 billion (up 24%) and PARS FUA of $24.8 billion (up 5%). This growth is driven by $4.2 billion in net inflows and $7.5 billion of positive market movements. The active advisers have increased by 11% to 5,649, with 36 new licensee agreements signed during the quarter. Hub24's market share has risen to 9.9% as at 31 March 2026, up from 8.6% in the previous quarter. In my opinion, this is a significant achievement, and it highlights the company's strong performance in the funds under administration sector. However, I am curious to see how Hub24 will manage the increased funds under administration and maintain its market share in the long term.
Alkane Delivers Record FY26 Production
Alkane has reported Q4 gold equivalent production of 42,491oz, in line with its preliminary figures, capping a record year. The FY26 production is 168,337oz, at an AISC of $2,925/oz, which pushed just above the top end of guidance. The company has proposed a maiden dividend of 2c/share fully franked, subject to audit and final Board confirmation. Alkane's FY27 guidance is 163-177koz at an AISC of $2,900-3,200/oz, with growth capital of $160-190m. Personally, I find this a fascinating development, as it indicates a strong performance in the gold mining sector. However, I am curious to see how Alkane will manage the increased production and maintain its profitability in the long term.
Plenti Posts Record Quarterly Originations of $536m in 1Q27
Plenti has delivered record loan originations across all three verticals to open FY27, with the loan book growing to $3.3 billion and credit quality holding steady. The loan originations are up 22% to a record $536 million, up 13% on the prior quarter, with June a record month at $221 million, up 39% on PCP. Plenti's revenue is up 16% to $84.6 million, and cash PBT is $10.7 million, including $2.2 million of net proceeds from a debt sale. In my opinion, this is a significant achievement, and it highlights the company's strong performance in the lending sector. However, I am curious to see how Plenti will manage the increased loan originations and maintain its credit quality in the long term.
NextDC Contracted Utilisation Up 11% on Further Customer Wins
NextDC's pro forma contracted utilisation has risen to 740MW as at 30 June 2026, with FY26 guidance unchanged. The contracted utilisation is up 11% to 740MW since the 20 April 2026 update, an increase of 73MW on further customer contract wins. The forward order book has lifted to 565MW, expected to progressively convert to billings, revenue and EBITDA across FY26 to FY30. Personally, I find this a fascinating development, as it indicates a strong performance in the data centre sector. However, I am curious to see how NextDC will manage the increased contracted utilisation and maintain its profitability in the long term.
Gold, Silver and Critical Minerals Explorers Report Fresh Drilling and Resource Results
A batch of ASX explorers has released exploration and resource updates spanning gold, silver, copper, lithium and rubidium. Waratah Minerals has returned further Spur Project drill hits, PC Gold has lifted its Global Spring Hill resource, and Aeris Resources has grown Tritton Mineral Resources. Personally, I find this a fascinating development, as it highlights the potential for new discoveries in the mining sector. However, I am curious to see how these companies will manage the increased exploration and maintain their profitability in the long term.
China Ends Battery and Solar Tax Exemption to Force Overcapacity Shakeout
Beijing will levy a consumption tax on lithium-ion batteries and solar cells for the first time in over a decade, aiming to squeeze out weaker producers amid brutal domestic price wars. The levy could add around 1,000 yuan (US$147) per EV once the rate hits 4%, a fresh squeeze on carmakers with industry-wide profitability of just 3.4% in the first five months. Personally, I find this a fascinating development, as it highlights the potential for a shakeout in the battery and solar sectors. However, I am curious to see how this will impact the profitability of carmakers and the overall market dynamics.
Trump's Temporary Global Tariffs Set to Expire Friday, with More Permanent Levies Expected
The 150-day authority behind Trump's 10% global tariff runs out on 24 July, and the administration looks set to replace it with more durable duties under a different legal basis. The Section 301 is the likely replacement, allowing retaliation against unfair trade practices and offering a more durable legal footing. Personally, I find this a fascinating development, as it highlights the potential for more permanent trade levies. However, I am curious to see how this will impact the global trade dynamics and the profitability of companies affected by the tariffs.
Houthis Declare Saudi Naval Blockade as US-Iran War Escalates on Ninth Night of Strikes
Yemen's Houthis have opened a potential new front by threatening Saudi shipping, deepening the threat to global energy supplies even as mediators push a fresh ceasefire proposal. A full Bab el-Mandeb closure would cut around 7% of global oil supply, on top of the roughly 10% already lost to the Gulf war. Personally, I find this a fascinating development, as it highlights the potential for a new front in the US-Iran war. However, I am curious to see how this will impact the global energy markets and the profitability of energy companies.
South Korean Retail Traders Nurse Heavy Losses as Leveraged Chip Bets Unwind
Single-stock leveraged ETFs tied to Samsung and SK Hynix have collapsed after the AI-driven semiconductor rally reversed, hitting domestic retail investors hardest. Korean retail bought a net 14 trillion won (US$9.4bn) of single-stock leveraged ETFs since their 27 May launch, versus about 2 trillion won by foreign investors. Personally, I find this a fascinating development, as it highlights the potential for a correction in the semiconductor sector. However, I am curious to see how this will impact the profitability of Korean retail traders and the overall market dynamics.
Citi Says Magnificent Seven Tag is Obsolete for the AI Trade
Citi strategists argue investors should ditch the Mag 7 label in favour of a broader 'growth cluster' as correlations within the group break down. The growth cluster spans big tech plus AI infrastructure names, making up more than half of S&P 500 market cap and contributing nearly 48% of its earnings. Personally, I find this a fascinating development, as it highlights the potential for a shift in the market dynamics. However, I am curious to see how this will impact the profitability of the companies in the growth cluster and the overall market trends.
Short Bets Against US Stocks Hit Record as AI Worries Mount
Bearish positioning has surged to all-time highs across major US indices even as equities have rallied, reflecting anxiety over the durability of the run. The S&P 500 short interest is near a record 3.79% of free float, while the Russell 3000 figure has climbed to a record 6.3%. Personally, I find this a fascinating development, as it highlights the potential for a shift in the market dynamics. However, I am curious to see how this will impact the profitability of short sellers and the overall market trends.
Hedge Funds Dump US Tech at Record Pace, Goldman Says
Goldman's Prime Services desk flags the largest two-month retreat from the tech sector on record as AI valuation scepticism builds. The cumulative selling of around 10% in market value over the past two months marks the biggest tech sector reduction since the data series began more than a decade ago. Personally, I find this a fascinating development, as it highlights the potential for a shift in the market dynamics. However, I am curious to see how this will impact the profitability of US tech companies and the overall market trends.
