ASX Gets a New CEO, Anthony Attia

Hi folks. ASX Ltd. has recruited Anthony Attia as its new CEO to lead the embattled bourse, a former chief at Euronext Paris.

Meantime, as Jim Chalmers’ tax tweaks ripple across trading floors and board rooms, investors are rushing to unpack the impact on portfolios and wealth structures. The budget could increase the appeal of bonds, hurt consumer stocks, while also increasing pressure on the Reserve Bank to hike rates further. Commonwealth Bank emerged as a casualty. The lender’s market value fell about A$30 billion ($22 billion) for its worst ever day on the stock market.

Elsewhere, US President Donald Trump has arrived in Beijing, just as a Chinese supertanker looks to test the US naval blockade in the Strait of Hormuz. — Richard Henderson, Australian Finance Reporter

ASX named Anthony Attia its new chief executive, concluding a search after Helen Lofthouse said she was standing down earlier this year.

Investors are scrambling to assess the impact of the tax tweaks for assets including stocks, bonds and property unveiled in Tuesday night’s budget. The new rules replace the 50% discount on capital gains with cost base indexation and a 30% minimum tax rate, alongside changes to trusts and property investing. Wealth managers warn it could upend trust structures and boost demand for safer, income-generating assets.