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ASX Index Was Pushed A Bit Higher Today’s Trade

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Australian stocks had been led higher with a jump in technology stocks on, while losses in power shares and miners capped gains Tuesday.

The S&P/ASX 200 index rose 0.29% to 6,994 points in very early trade, off 3.1% from its lifetime high on Feb. 20, 2020. Buy-now-pay-later firm Zip Co was the gainer that is top the benchmark after announcing upbeat quarterly outcomes.

Zip stated it had been buying both developed and developing markets to grow its international impact and in addition made a launch that is soft Canada, driven by U.S. merchants’ demand.

The S&P 500 and Dow Jones average that is industrial reduced on Monday, with investors waiting for cues from the future corporate profits period and a key inflation report later this week.

Overseas, S&P 500 E-minis futures were up 0.04%, while Nikkei futures rose 0.05per cent.

Australia’s technology stocks rose 1.48percent led by electronics solutions designer Codan Ltd accompanied by Xero Ltd, both gaining over 2%.

Financial shares rose 0.3% led by Zip Co Ltd , up 5.41%, accompanied by Netwealth Group Ltd, gaining 3.11%.

ASX 300 metals and mining index fell 0.02percent led by Imdex Ltd, down 1.62percent, followed by Nickel Mines Ltd , losing 1.59%.

ASX 200 Energy index dropped 0.56% with Ampol Ltd being the decliner that is biggest at 1.88percent, followed closely by Beach Energy Ltd, losing 1.17%, Meta News saw.

New Zealand’s standard S&P/NZX 50 index rose about 0.3per cent to 12560.1 with dairy firm Synlait Milk gains which are leading. The country’s main bank is scheduled to leave interest levels unchanged on Wednesday. Australian stocks had been led higher with a jump in technology stocks.

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Billy Houghton

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