Australian tech stocks dragged by WiseTech after annual profit miss
26/08/2026 06:59
BUZZ-Australian tech stocks dragged by WiseTech after annual profit miss ** Australian tech stocks .AXIJ fall as much as 3.5%, the sub-index's biggest intraday pct drop since Aug 19
** Sub-index dragged by sector major WiseTech Global WTC.AX, down 9%, after the logistics software firm logged annual profit that missed Visible Alpha (VA) estimate
** "Given the local technology index is relatively concentrated, a sharp drop in a few individual names can have an outsized impact on the sector," said Cliff Man, CEO of ETF Shares
** Peer Xero XRO.AX down 5.2%
** YTD, sub-index down 11.5%
(Reporting by Aamir Sheik Khalid in Bengaluru)