Australian tech stocks hit near two-month high as Wall Street gains
XLK•Australian tech stocks rose as much as 8.7%, while the broader benchmark gained 2.0%. The tech subindex reached its highest level since September 7 and posted its largest intraday percentage gain since June 12.
1. Tech shares advance
Australian tech stocks climbed, tracking gains on Wall Street after Democrats’ sweeping midterm election victory eased political uncertainty. WiseTech Global rose 3.7% and Xero gained 9.8%; the tech subindex was down about 18% year to date.
