Australian tech stocks set for best day in over a week on US rally

Megaport

03/02/2026 24:44

** Australian technology stocks .AXIJ rise as much as 1.9% to 1,974.8 points, their biggest intraday percentage gain since January 23

** Aussie tech stocks track overnight gains in U.S. peers, lifted by a rally in chipmakers and other AI‑linked names .N

** Shares of Megaport MP1.AX rose as much as 2%, while sector leader WiseTech Global WTC.AX added as much as 1.4%

** ASX-listed shares of Life360 Inc 360.AX and Codan CDA.AX topped gains on the benchmark, adding 4.7% and 2.5%, respectively

** AXIJ down 9% this year, including the day's move, vs a 1.9% increase in the benchmark .AXJO index

(Reporting by Roushni Nair in Bengaluru)

((Roushni.nair@thomsonreuters.com))