Aussie technology stocks tumble on Wall St losses, but set for weekly gain

Nuix

11/04/2025 03:34

** Australian technology stocks .AXIJ fall as much as 3.4% to 2187.3 points, but still on track for a 7.9% weekly gain to its best week since August 2024

** Sub-index's fall on the day in tandem with Wall Street decline as investors remain concerned about the economic implications of the ongoing trade war .N

** However, sub-index saw its biggest intraday percent gain since early November 2011 on Thursday amid a sharp rebound of global equities, allowing it to see an overall weekly gain

** Software co Nuix NXL.AX is the biggest percent loser on the sub-index after falling 12.1% to its lowest level since May 9, 2024

** Siteminder SDR.AX is down 4.6%, Wisetech WTC.AX falls as much as 3.9%, but still set for a 13.9%  weekly gain

**YTD, sub-index down 19.1%, while the local benchmark S&P/ASX 200 .AXJO is down 6.9%

 (Reporting by Nichiket Sunil in Bengaluru)

 ((nichiket.sunil@thomsonreuters.com))