Closing Bell 1st July: WiseTech Leads Decline in ASX Tech Stocks Amid Global Election Uncertainty
The S&P/ASX 200 Index dropped by 31.2 points to 7736.3, with technology stocks being the worst performers, down 1.8%, and WiseTech plummeting 5.6%.
The S&P/ASX 200 Index dropped by 31.2 points to 7736.3, with technology stocks being the worst performers, down 1.8%, and WiseTech plummeting 5.6%.
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All 11 sectors were positive, led by the energy sector due to stronger oil prices. Key energy stocks such as Woodside, Santos, and Origin saw gains. Brent crude rose to $US85.98, marking an over 8% increase for the month.
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Australian shares turned lower in the final hours of trading, with the S&P/ASX 200 down 16 points, or 0.2%, at 7761.60 around 2:30 pm. Despite gains in energy stocks, which remained the best-performing sector up 0.7%, the broader index faced moderate declines. Woodside shares rose by 1.2%, driven by overnight gains in oil and LNG.
Today, the Australian share market saw a broad rally, pushing the S&P/ASX 200 Index up by 0.9%, or 68.2 points, to 7768.5 by midday. All 11 sectors were in the green, with investors eagerly awaiting the Reserve Bank of Australia’s (RBA) cash rate decision at 2.30pm AEST.
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