South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
The Australian Securities Exchange (ASX) has unveiled significant proposed reforms aimed at strengthening shareholder protections and limiting share dilution during public takeovers and mergers. Under the draft rules released on Wednesday, companies listed in the S&P/ASX300 index would be restricted from issuing more than 25% of their existing share capital to fund acquisitions without first obtaining shareholder approval.
The proposed changes represent a major reduction from the current framework, which allows eligible companies to issue shares equivalent to up to 100% of their existing capitalisation without a shareholder vote. The ASX review was launched in response to growing concerns from investors over dilution risks in large-scale corporate transactions.
The debate intensified after building materials giant James Hardie received a waiver from the ASX, allowing it to avoid a shareholder vote while issuing approximately 35% of its share capital to finance its $8.8 billion acquisition of U.S.-based AZEK. The decision sparked criticism from investors who argued that the transaction significantly diluted the value of their holdings without giving them an opportunity to approve the deal.
ASX Acting Group Executive for Listings, Gavin Skene, said the proposed reforms reflect strong market feedback supporting greater shareholder safeguards. “We have listened to the market and heard loud and clear the market’s support for more protections against share dilution in public takeovers and mergers,” Skene stated.
Investor dissatisfaction over the James Hardie-AZEK acquisition ultimately resulted in significant boardroom consequences. Shareholders voted to remove Chair Anne Lloyd and two other directors, highlighting concerns over the company’s handling of the takeover process and governance practices.
The proposed ASX takeover rules are expected to improve transparency, enhance corporate accountability, and provide investors with a stronger voice in major acquisition decisions. If implemented, the changes could reshape how Australian-listed companies structure merger and acquisition deals, ensuring that shareholders have greater influence over transactions that may substantially impact their ownership stakes.
