Manhunt for killer after Melburnian is stabbed to death on the street corner after curfew

A manhunt is underway in Melbourne after a man was stabbed to death on a street corner.

Homicide detectives believe two men were fighting on the corner of Essex and Malvern roads at South Yarra about 11pm on Friday, when one was stabbed repeatedly in the upper body.

The man, aged in his 40s, was rushed to hospital but later died.

Homicide detectives believe two men were fighting on the corner of Essex and Malvern roads (pictured) at South Yarra about 11pm on Friday

Homicide detectives believe two men were fighting on the corner of Essex and Malvern roads at South Yarra about 11pm on Friday

His attacker fled the scene.

A nearby housing complex has been cordoned off with specialist officers at the scene.

Meanwhile, a man is in custody following an earlier alleged stabbing in the city's southeast, at Frankston.

Emergency services were called to Petrie Street about 12.05am where they found a 35-year-old man with a laceration to his neck.

He was taken to hospital in a serious but stable condition.

Police attended a nearby address and arrested a 38-year-old man who was assisting officers with their inquiries.

Investigators believe the two men are known to each other.

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