A tech sector rebound gathered pace on Thursday as investors pared back interest rate increase expectations globally and positive earnings results from companies on the tech-heavy Nasdaq Index boosted sentiment.
The Wall Street buying spilled over into ASX trading with the tech sector’s 1.9 per cent gain helping offset declines in the energy and materials sectors, which finished down 2.2 per cent and 1.1 per cent, respectively. The benchmark S&P/ASX 200 dropped 1 point, finishing 0.01 per cent down.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
