Australian tech stocks get lift from overnight AI-fueled rally in US
BUZZ-Australian tech stocks get lift from overnight AI-fueled rally in US ** Shares of Australian technology stocks .AXIJ rise 2.7%, set for their best day since October 16
** Tech-laden Nasdaq rose overnight as Anthropic's initial public offering filing and a series of AI-related funding announcements from Meta, SpaceX and Broadcom boosted sentiment
** Shares of Megaport MP1.AX add 6%, while TECHNOLOGY ONE TNE.AX gains 1.4%, and WiseTech Global WTC.AX rises 1.2%
** Sector gets boost from an over 10% jump in data center operator NEXTDC NXT.AX , after it submitted its covenant compliance report to its senior debt financiers for June 30, saying it complied with both financial covenants
** Covenants update should help reduce investor concerns on balance sheet — Citi
** Sub-index down over 23% YTD
(Reporting by Shruti Agarwal in Bengaluru)
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