Australian stocks strengthen on tech push and US stimulus outlook

Japanese chipmaker Kioxia abandons IPO plan as China-U.S. Tensions rise: Nikkei Business

* Tech stocks gain almost 5%, Afterpay leads

* Whitehaven Coal gains almost 3% as production increases rapidly

* Gold and minor stocks in the red (updates to be closed)

Jan. 14 (Reuters) – Australian stocks ended higher on Thursday, as investors took inspiration from a bullish Wall Street session on the U.S. stimulus outlook, with gains fueled by the then domestic tech sector that now-pay-later purchase giant, Afterpay, jumped about 10%.

The S & P / ASX 200 index extended gains to a second session, finishing 0.43% higher at 6,715.3 points.

“I haven’t seen much in terms of hard-hitting news so markets are happy to follow a relatively good US session,” said Nick Twidale, APAC Managing Director, FP Markets.

The Wall Street S&P 500 benchmark closed slightly higher on Wednesday, as investors awaited details of the upcoming U.S. fiscal stimulus package and Congress began impeachment hearings for President Donald Trump.

“I would classify him as an optimist, hopefully,” Twidale said.

For us, technology stocks were …

Read Full Story

News Highlights

  • According to the source Australian stocks strengthen on tech push and US stimulus outlook
  • Check all news and articles from the tech news updates.
Bollyinside - US Local News & Breaking News Stories
Compare items
  • Total (0)
Compare
0