'We love this stock': GameStop effect spreads as calls for probe build

The battle between small-time traders and hedge funds that has shaken U.S. and European stock markets moved into Asia on Thursday, with surges in several Australian companies joining a list of social-media hyped moves that have cost financial institutions billions of dollars.

Heavily shorted Australian shares, including Webjet and Tassal Group, climbed more than 5% even as Sydney’s benchmark ASX 200 index fell 2%. [.AX]

In New York, GameStop, the video game chain at the heart of the slugfest between Wall Street and Main Street, added another 37% in early...