Live: ASX to open higher as Wall Street rallies
The Aussie share market is set to open higher as Wall Street rallies. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
The Australian share market opened higher on Tuesday, following a rally on Wall Street the previous night. This positive momentum was driven by traders anticipating easing fears over capital expenditure from AI companies. The ASX 200 gained 1.4% to reach its highest level since early March, with major banks contributing significantly to the gains.
All sectors, except for utilities, saw an increase in stock prices. In particular, the technology sector led with a 2.5% rise, followed by healthcare (+2.1%) and financials (+1.9%). The top-performing stocks were Saudi oil giant Aramco, which reported a 44% jump in net profit, and US technology stocks, which benefitted from increased investment in AI and cloud infrastructure.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
