ASX Perks Up, as Tech Stocks Flex Their Muscles

Australian Financial Review2022-05-13

Australian shares shot up 1.2 cent in early trade on Friday with tech stocks taking the lead, after the Nasdaq bounced overnight.

Afterpay-owner Block Inc was the biggest outperformer, up 11 per cent, closely followed by Link Administration, up 9.8 per cent.

All 11 categories of the index rose with tech showing a gain of 4.4 per cent and real estate 2.1 per cent. The benchmark dropped to its lowest in three and a half months in the last session.

The major banks gained except CBA down 0.1 per cent. Mining giants BHP Group, Rio Tinto and Fortescue powered up between 0.9 per cent and 1.4 per cent.

Virtus Health edged up 0.25 per cent after providing a business update.

Bathroom and plumbing supplies company Reece Group was the biggest laggard, down 8.4 per cent.

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