BUZZ-Australian tech stocks track Wall Street rebound to hit 1-week high
Reuters
Nov 25
BUZZ-Australian tech stocks track Wall Street rebound to hit 1-week high
** Australian technology stocks .AXIJ rise as much as 2.2%, while the broader benchmark .AXJO trades 0.2% higher
** Sub-index hits highest level since November 18, on track for second straight session of gains
** Nasdaq Composite .IXIC closed higher as increased bets of a U.S. Fed rate cut in December helped investors look past concerns of lofty tech valuations .N
** Index leaders WiseTech Global WTC.AX and Xero XRO.AX rise 0.7% and 0.6%, respectively
** YTD, AXIJ down 15%, lagging behind a 4.6% rise on AXJO
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))
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