Australia's tech stocks track Wall Street peers lower

Megaport

06/06/2025 02:33

** Australian tech stocks .AXIJ fall 0.5%, set for their weakest session since May 30 - if current trends hold

** Sub-index logs a session of losses after three straight sessions of gains

** Local stocks track losses of Tesla TSLA.O, as it slumped as the public feud between CEO Elon Musk and Trump intensified .N

** Shares of Megaport MP1.AX down 1.8% set for its weakest session since May 30

** Shares of Xero XRO.AX and NEXTDC NXT.AX drop 0.2% and 0.8%, respectively

** U.S stocks ended lower overnight, with the tech-heavy Nasdaq .IXIC dropped 0.8%

** AXIJ up 6.2% YTD vs a 4.7% increase in the broader benchmark index .AXJO

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))