Australia Briefing

Super Funds Play Catch-Up in Wall Street Tech Rally

Microsoft branding.Photographer: Adam Gray/Bloomberg

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By Ben Westcott

August 20, 2025 at 6:41 PM EDT

Good morning everyone, it’s Ben here in a chilly Melbourne, this is what’s making news today.

Today’s must-reads:
• Superannuation funds run to catch the US tech wave
• Rinehart urges Australia to ditch net zero
• Pop Mart shares pop on Labubu news

Some superannuation funds are waking up to a harsh reality: they’ve been left behind by the market’s hottest rally. Investors are discovering they’re underexposed to names like Nvidia and Microsoft — both of which recently hit record highs. Now they’re shifting course.

Canva launched an employee stock sale at a valuation of $42 billion, marking a significant leap in value for the Australian design software startup that’s betting on artificial intelligence for growth.