Today, the S&P/ASX 200 Index (ASX: XJO) defied the steep losses in tech shares to deliver a green end to the week. At the end of the session, the benchmark index inched 0.11% higher to 7,304 points.

It was another bloodbath day for tech shares on the ASX today. This mirrored a similarly disappointing showing from US-listed tech companies overnight amid a more hawkish signal from central banks. Fortunately, it was a much better day for energy, miners, and financials — helping pull the Australian index into positive territory by the end of the day.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Northern Star Resources Ltd (ASX: NST) was the biggest gainer today. Shares in the gold mining company rallied 5.81%. This came amid a strong rise in the spot price of the precious commodity overnight. Find out more about Northern Star Resources here.

The next biggest gaining ASX share today was Virgin Money UK PLC (ASX: VUK). The full-service bank gained 5.76% despite there being no new announcements from the company. Uncover the latest Virgin Money UK details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Northern Star Resources Ltd (ASX: NST)	$9.47	5.81%
Virgin Money UK PLC (ASX: VUK)	$3.12	5.76%
Champion Iron Ltd (ASX: CIA)	$4.97	5.75%
Liontown Resources Ltd (ASX: LTR)	$1.595	5.28%
Whitehaven Coal Ltd (ASX: WHC)	$2.52	5.00%
Endeavour Group Ltd (ASX: EDV)	$6.99	4.96%
Cleanaway Waste Management Ltd (ASX: CWY)	$3.00	4.90%
Yancoal Australia Ltd (ASX: YAL)	$2.565	4.69%
Evolution Mining Ltd (ASX: EVN)	$3.95	4.50%
Newcrest Mining Ltd (ASX: NCM)	$23.70	3.95%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares this Friday
• Why is the Northern Star (ASX:NST) share price surging 6% today?
• BNPL whacked! Why the Afterpay (ASX:APT) share price is down 7% to a new 52-week low today
• ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) has just ended the week on a positive note. The benchmark index has risen 0.1% to 7,304 points.

Four ASX shares that climbed more than most today are listed below. Here’s why they were pushing higher:

Alkane Resources Limited (ASX: ALK)

The Alkane Resources share price is up 23% to 96 cents. This follows news that Alkane has intersected high-grade gold and copper mineralisation at its Boda prospect. Boda is located within Alkane Resource’s Northern Porphyry Project in central west NSW. The company believes this expedition could become a large tier 1 gold-copper project.

De Grey Mining Limited (ASX: DEG)

The De Grey share price is up 5% to $1.14. The catalyst for this was news that the company has reported strong gold results from its Diucon deposit at Hemi, located in Western Australia. Management advised that drilling at Diucon has increased the depth of mineralisation to approximately 550 metres below surface. Zones of higher gold grades, commonly associated with visible gold, continue to be intersected.

Nufarm Ltd (ASX: NUF)

The Nufarm share price is up 3% to $4.88. This follows the agricultural chemicals company’s annual general meeting this morning. At the event, management spoke positively about its outlook. It advised that it is experiencing continued strong demand for both its seed and crop protection products.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is up 3% to $1.48. This appears to have been driven by a rise in the gold price overnight. It isn’t just the St Barbara share price which is rising on Friday. The S&P/ASX All Ordinaries Gold index has just closed a sizeable 4% higher.

The post Why Alkane, De Grey, Nufarm, and St Barbara shares are pushing higher appeared first on The Motley Fool Australia.

More reading

• Here’s why the Alkane Resources (ASX:ALK) share price rocketed 24% today
• Why the De Grey Mining (ASX:DEG) share price is storming 7% higher today
• ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns
• 5 things to watch on the ASX 200 on Friday
• Macquarie (ASX:MQG) upgraded these ASX gold shares to ‘buy’ for 2022

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Dexus Property Group (ASX: DXS) share price is dipping during late afternoon trade on Friday. This comes after the real estate group announced it has externally valued its property portfolio.

At the time of writing, the Dexus share price is down 1.33% to $11.17 apiece.

Dexus’ property value increases

Investors are selling off their positions in Dexus shares regardless of the company providing a positive update.

According to its release, Dexus advised that 124 of its 189 property assets has been externally valued.

For the 6 months to 31 December 2021, the report indicated that Dexus’ book value increase by around $421 million. This represents a 2.4% lift on the prior corresponding period.

The assets valued consisted of 34 office properties, 89 industrial properties and one healthcare property.

Dexus noted that its office portfolio grew slightly by 0.6% from recent leasing deals. The industrial portfolio surged 8.7% in value followed by improved market conditions, and capitalisation rate compression across its assets.

As such, the weighted average capitalisation rate across the total portfolio tightened by around 15 basis points to 4.76%. This was broken down to the office portfolio reducing by six basis points to 4.85%, and the industrial portfolio by 50 basis points to 4.42%.

Dexus CEO, Darren Steinberg commented:

As evidenced by these latest independent valuations, the value of Dexus’s quality portfolio has remained robust in a COVID-impacted environment. We have continued to see growth in asset values for well-located industrial and logistics facilities, supported by strong investment demand.

We anticipate the post-lockdown environment will continue to see global capital attracted to Australia, benefiting quality assets across the core property sectors.

About the Dexus share price

The Dexus share price has gained around 13% over the past year, but is up almost 20% in 2021. The company’s shares reached a 52-week high of $11.50 yesterday, before treading lower today.

Dexus presides a market capitalisation of roughly $12.01 billion, with approximately 1.08 billion shares outstanding.

The post Dexus (ASX:DXS) share price edges lower despite valuation lift appeared first on The Motley Fool Australia.

More reading

• Own the Vanguard Australian Property ETF (ASX:VAP)? Here’s what you’re invested in
• Leading brokers name 3 ASX shares to sell today
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• Analysts rate these 2 ASX dividend shares as buys

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Although the Magellan Financial Group Ltd (ASX: MFG) share price got off to a rather strong start today, it won’t be finishing the day’s trading. Yes, Magellan shares last traded at around 2 pm this Friday. At the time, they were up 1.77% at $29.36 each. And that’s where they will be staying, at least for today.

So what’s happened to the Magellan share price?

Well, the company put out an ASX statement just after 2 o’clock this afternoon. It conformed that Magellan Financial Group had requested the halt. Why?

Magellan shares placed in trading halt

Here’s what the company said in the announcement:

The trading halt is being requested pending an announcement to be made by MFG. The announcement relates to the termination of a material contract.

MFG requests that the trading halt lasts until the earlier of the commencement of trading on Monday 20 December 2021 or when the announcement is released to the market.
And that’s all we know for now.

This announcement comes at a time where Magellan shares have faced significant pressure. Before today’s trading halt, the Magellan share price had already lost close to 16% over the past month, and almost 44% over the past 6. And as we examined this morning, it also comes at a time where some of Magellan’s largest funds are facing performance scrutiny. That’s despite the company continuing to record growing funds under management (FUM).

So no doubt shareholders will be hoping that this latest development isn’t too serious in nature. The Magellan share price arguably doesn’t need any more bad news.

At this last-traded share price, Magellan has a market capitalisation of $5.45 billion, with a price-to-earnings (P/E) ratio of 20.3, and a trailing dividend yield of 7.2%.

The post The Magellan (ASX:MFG) share price just got halted. What’s going on? appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares this Friday
• BNPL whacked! Why the Afterpay (ASX:APT) share price is down 7% to a new 52-week low today
• ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns
• What is the outlook for the Magellan (ASX:MFG) share price in 2022?
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Whitehaven Coal Ltd (ASX: WHC) share price is surging higher today despite no news coming from the company.

However, the S&P/ASX 200 Energy Index (ASX: XEJ) is leading the market on Friday. Additionally, the price of coal is likely on the minds of many after the release of Queensland’s mid-year budget update.

At the time of writing, the Whitehaven share price is $2.50, 4.17% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is up 0.38% right now.

Let’s take a closer look at what might be spurring market sentiment for the coal miner.

Whitehaven share price soars on Friday

The Whitehaven share price is leading its home sector today, but the share prices of Washington H Soul Pattinson and Co Ltd (ASX: SOL), Beach Energy Ltd (ASX: BPT), and Ampol Ltd (ASX: ALD) aren’t far behind it.

They’re gaining 2.5%, 2.4%, and 2% respectively on Friday afternoon.

Additionally, the Whitehaven share price’s gains come after yesterday’s release of Queensland’s mid-year budget update.

While Whitehaven doesn’t operate any coal mines in Queensland, the budget update has put coal prices in the spotlight in a good way.

Since the state’s budget was tabled in June, the price of both thermal and metallurgical coal have hit historic highs.

On 15 June, the spot price for a tonne of premium hard coking coal was US$173.25. By 22 September, that same tonne was going for US$408. Though, it had dropped as low as US$315.50 in early December.  

It was a similar story for thermal coal, with its spot price increasing from US$74.50 per tonne on 15 June to US$179.05 per tonne on 19 October. Earlier this month, it had dropped once more to US$97.50 per tonne.

The state’s Treasurer, Cameron Dick commented:

Increases in the price of hard coking coal, combined with the strong property sector have delivered increased revenues from coal royalties and transfer duties.

The state’s taxation and royalties are, therefore, expected to be $8.1 billion higher than previously predicted over the next four years.

Royalties from coal have allowed the state’s government to put $2.5 billion towards future priority initiatives. Another $2.1 billion will go towards Queensland’s COVID-19 response.  

Right now, the Whitehaven share price is 50% higher than it was at the start of 2021. It has also gained 1.8% over the last 30 days.

The post Why is the Whitehaven (ASX:WHC) share price having such a stellar end to the week? appeared first on The Motley Fool Australia.

More reading

• Why is the Whitehaven (ASX:WHC) share price hitting the dirt today?
• Morgan Stanley: don’t miss this with the Whitehaven (ASX:WHC) share price
• Why Webjet, Whispir, Whitehaven Coal, and Woodside shares are pushing higher

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. The benchmark index is currently up 0.3% to 7,317.4 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Afterpay Ltd (ASX: APT)

The Afterpay share price is down 7.5% to $82.90. Investors have been selling this buy now pay later (BNPL) provider’s shares after US authorities launched an investigation into the BNPL sector. The US Consumer Financial Protection Bureau is looking to see if BNPL players need to be better regulated and if US consumers are adequately protected.

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is falling 5.5% to $21.03. This follows the completion of a $75 million institutional placement. These funds were raised at a 5.8% discount of $21.00 per new share. Combined with an upcoming $25 million share purchase plan, the proceeds will support the acquisition of the Australia and New Zealand corporate and entertainment travel businesses of Helloworld Travel Limited (ASX: HLO).

Dubber Corp Ltd (ASX: DUB)

The Dubber share price has sunk 13% to $2.68. This appears to have been driven by weakness in the tech sector and a broker note out of UBS. According to the note, the broker has initiated coverage on the call recording technology company with a neutral rating. UBS wants to see a consistent trajectory of accelerating subscriber growth before turning more positive.

EML Payments Ltd (ASX: EML)

The EML share price is down 5.5% to $3.07. This morning the payments company confirmed that a class action has been commenced by Shine Lawyers. The proceedings are said to relate to whether EML failed to disclose information about correspondence received from the Central Bank of Ireland (CBI) in a timely manner.

The post Why Afterpay, Corporate Travel, Dubber, and EML shares are falling appeared first on The Motley Fool Australia.

More reading

• Latitude (ASX:LFS) boss warns many ASX BNPL companies “will go out of business”
• BNPL whacked! Why the Afterpay (ASX:APT) share price is down 7% to a new 52-week low today
• ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns
• EML (ASX:EML) share price plunges on vow to ‘vigorously defend’ against class action
• ASX BNPL shares tumble today amid US probe

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended AFTERPAY T FPO, Dubber Corporation, and EML Payments. The Motley Fool Australia owns and has recommended AFTERPAY T FPO, Dubber Corporation, and EML Payments. The Motley Fool Australia has recommended Corporate Travel Management Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Alkane Resources Limited (ASX: ALK) share price exploded today following a drilling update.

Just before the market close, shares in the company were trading at 97 cents a pop, up 23.72% on yesterday’s closing price of 78 cents.

Alkane Resources is a gold explorer and producer that operates multiple mining sites in New South Wales.

Why are Alkane shares on the move?

Alkane Resources told ASX investors it has intersected high-grade gold and copper mineralisation at the company’s Boda prospect.

Boda is located within Alkane Resource’s Northern Porphyry Project in central west NSW. The company believes this expedition could become a large tier 1 gold-copper project.

Alkane Resources said the gold mineralisation stretched over 3km in between exploration sites known as Boda Three and Kaiser.

Meanwhile, high levels of gold and copper mineralisation were also identified at other sites known as the Boda Two, Boda Three and the Korridor Prospect.

The company plans to drill more holes to test the overall gold and copper mineralisation at the exploration sites.

Alkane Resources also produces gold at its Tomingley Gold Operations. This mine exceeded expectations in the 2021 financial year.

Management commentary

Commenting on the drilling update, Alkane Resources managing director Nic Earner said:

These drill results show the extension of the highgrade system to the north west of Boda.

With the gold-copper mineralisation at Korridor appearing to connect Kaiser to Boda, we’re looking at a system over 3km in length.

We look forward to bringing shareholders more results as well as our initial resource model in the coming quarter.

Alkane Resources share price snapshot

The Alkane Resources share price is down 1.53% over the past 12 months but up 6% in the past month.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned nearly 9% to investors in the past year.

The post Here’s why the Alkane Resources (ASX:ALK) share price rocketed 24% today appeared first on The Motley Fool Australia.

More reading

• Dexus (ASX:DXS) share price edges lower despite valuation lift
• The Magellan (ASX:MFG) share price just got halted. What’s going on?
• Why is the Whitehaven (ASX:WHC) share price having such a stellar end to the week?
• Why Afterpay, Corporate Travel, Dubber, and EML shares are falling
• Here are the 3 most heavily traded ASX 200 shares this Friday

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) looks set to end the trading week on a positive note after a pretty lacklustre few days. At the time of writing, the ASX 200 is up by 0.17% at 7,308 points.

But let’s dive a little deeper and check out the ASX 200 shares topping the volume charts in late afternoon trade, according to investing.com.

3 most traded ASX 200 shares by volume on Friday

Zip Co Ltd (ASX: Z1P)

ASX 200 BNPL share Zip is our first heavily traded share for today. Zip Co has seen a hefty 12.68 million of its shares bought and sold on the market thus far. This is likely to be a consequence of the nasty share price tumble that Zip has suffered through this Friday.

Zip shares are currently down by 5.62% at $4.20, after dipping as low as $4.05 this morning — a new 52-week low. This move comes after news that US regulators are reportedly looking into further regulation of the American buy now, pay later space.

South32 Ltd (ASX: S32)

ASX 200 resources share South32 is next up this Friday. So far, this diversified miner has seen a notable 13.43 million shares trade owners on the ASX today. With no news or developments out of South32 today, this move can likely be put down to the 1.31% boost to its share price. At the time of writing, South32 shares are trading for $3.88. Together with South32’s ongoing share buybacks, this is probably why we see this company make ‘the list’ today.

Telstra Corporation Ltd (ASX: TLS)

Telstra is our final and most traded ASX 200 share this Friday. The telco has had a sizeable 22.4 million shares traded on the market thus far today. Just like South32, there’s not much happening with Telstra in the news department today, other than share buybacks and a modest share price rise. Again, this combination is the likely cause of so many shares being traded. Telstra is currently up 0.12% today to $4.11 a share, just a touch off of its 52-week high of $4.13.

The post Here are the 3 most heavily traded ASX 200 shares this Friday appeared first on The Motley Fool Australia.

More reading

• Latitude (ASX:LFS) boss warns many ASX BNPL companies “will go out of business”
• BNPL whacked! Why the Afterpay (ASX:APT) share price is down 7% to a new 52-week low today
• ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns
• Zip (ASX:Z1P) share price dives 8% amid US concerns and Sezzle merger rumbles
• ASX BNPL shares tumble today amid US probe

Motley Fool contributor Sebastian Bowen owns Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Commonwealth Bank of Australia (ASX: CBA) has shaken off this week’s malaise and is well into the green in afternoon trading.

At time of writing, the CBA share price is up 2.3% to $98.96 per share.

The S&P/ASX 200 Index (ASX: XJO) is gaining as well, up 0.3%.

If CBA finishes in the green today it will be the first time this week since Monday’s 0.1% rise that the CBA share price has closed the day higher.

Now here’s what’s been happening with CBA this week.

Interest rates are on the rise

Yesterday The Motley Fool reported that CBA had raised its fixed lending rates for owner-occupiers and investors.

Owner-occupiers will pay an extra 0.05% interest, bringing the fixed rate to 2.54%.

In a sign that the bank expects interest rates to keep rising longer-term, CBA’s 3-year fixed rate increased 0.15%, with borrowers now having to pay 3.14% interest. Add on another year and the 4-year fixed rate was bumped 0.25% to now stand at 3.34%.

RateCity’s research director, Sally Tindall noted that with the latest round of increases, the bank’s 3-year and longer fixed rates are now higher than they were before COVID struck.

In would could pose some difficulties for the Aussie housing market, Tindall added, “These fixed rates hikes aren’t isolated to the big four banks. The rate rises are coming in across the board from lenders big and small and we expect them to continue.”

The CBA share price closed flat yesterday.

CBA shares struggle amid price competition

Earlier in the week, The Motley Fool reported on the challenges facing CBA in recent months amid the past year’s record low interest rates.

Joseph Koh, a portfolio manager in Schroders’ Australian equities team, said both the Westpac Banking Corp (ASX: WBC) and CBA share price have been struggling as the banks are “more skewed towards residential mortgages relative to peers”.

“Extremely low interest rates have buoyed mortgage growth, but have also led to sharp price competition, particularly hurting CBA’s and Westpac’s profitability,” Koh said.

CBA share price snapshot

The CBA share price has been a strong performer in 2021, up 19%. By comparison, the ASX 200 has gained 10% year-to-date.

Over the past month, CBA shares have managed to notch up a 0.5% gain while the benchmark has retreated that same amount.

CBA pays a trailing dividend yield of 3.6%, fully franked.

The post What’s happening with the CBA (ASX:CBA) share price this week? appeared first on The Motley Fool Australia.

More reading

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The CEO of buy now, pay later (BNPL) provider Latitude Group Holdings Ltd (ASX: LFS), Ahmed Fahour has told the media that many of his company’s ASX peers won’t survive through to 2024.

His comments, published yesterday afternoon, preceded the sector’s major downturn on Friday.

At the time of writing, the Latitude share price has seemingly dodged the worst of the carnage. It has fallen just 0.79% to trade at $1.89.

On the other end of the cacophony, the Afterpay Ltd (ASX: APT) share price has tumbled by 7.32% today. Its ASX peer Zip Co Ltd (ASX: Z1P) has fallen 5.6%. Sezzle Inc‘s (ASX: SZL) stock is also in the red, having slid 9.29%.

For context, the S&P/ASX 200 Index (ASX: XJO) is up 0.28% right now.

Let’s take a closer look at Fahour’s prediction for the ASX BNPL sector.

Will the ASX BNPL sector survive?

According to Latitude’s boss, the company will soon be one of only a few ASX-listed BNPL providers, with many going defunct in the near term.

Right now, 15 companies listed on the ASX are involved in the BNPL industry. That’s not including the likes of banking heavyweight Commonwealth Bank of Australia (ASX: CBA) and its StepPay offering.

Fahour told The Australian that Latitude will be among the survivors due to its 30 years of experience as a payment services provider.

The publication quoted him as saying:

[I]n the next 12-18 months, a lot of [ASX BNPL companies] will go out of business because the market won’t keep funding their losses.

The comments come days after BNPL industry expert Grant Halverson said the sector’s participants might be hard-pressed for capital in 2022.

Halverson noted a race to expand into the United States might see BNPL providers taking on more bad debts. This could hinder their ability to access finance facilities, he said.

Latitude’s offering is different to that of many BNPL companies. Its LatitudePay allows customers to pay in 10 instalments, rather than the industry norm of 4. It also offers LatitudePay+ for purchases of up to $5,000.

In addition to Fahour’s media appearance, Latitude’s latest international expansion may be buoying its share price, too.

Today, Latitude announced its move into Singapore in partnership with Harvey Norman Holdings Limited (ASX: HVN).

Its BNPL service will go live in 3 of Harvey Norman’s 12 Singapore stores this month.

The company is also moving into “bigger ticket BNPL” next year to differentiate itself from the broader Asian BNPL market.

Fahour commented on the company’s entry into Asia, saying:

Singapore is a major Asian commercial hub and a logical entry market for Latitude, boasting a vibrant retail sector with sophisticated consumers who are quick to adapt to digital innovation.

The post Latitude (ASX:LFS) boss warns many ASX BNPL companies “will go out of business” appeared first on The Motley Fool Australia.

More reading

• BNPL whacked! Why the Afterpay (ASX:APT) share price is down 7% to a new 52-week low today
• ASX 200 (ASX:XJO) midday update: BNPL shares sold off, Corporate Travel returns
• Zip (ASX:Z1P) share price dives 8% amid US concerns and Sezzle merger rumbles
• ASX BNPL shares tumble today amid US probe
• Affirm share price rallies overnight, but how does it compare to Afterpay (ASX:APT)?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended AFTERPAY T FPO and Harvey Norman Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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