Banks, miners lift Australia shares; tech stocks track Wall Street peers lower

By Reuters9 days ago

May 5 (Reuters) - Australian shares edged higher on Wednesday, led by heavyweight miners and banks, while losses in tech companies tracking overnight Wall Street losses capped gains.

The S&P/ASX 200 index .AXJO rose 0.2% to 7,080.80 as at 0040 GMT, after slipping as much as 0.2% earlier.


Overnight, Wall Street finished lower as investors dumped heavyweight growth stocks. Blue-chip tech giants dragged the Nasdaq Composite index .IXIC about 2% lower, its biggest single-day decline in almost six weeks. .N

Australian tech stocks .AXIJ tracked these losses and fell nearly 2%, with heavyweight buy-now-pay-later firm Afterpay APT.AX and WiseTech Global WTC.AX dropping 3.6% and 2.5%, respectively.

Banks .AXFJ were the top boosts to the benchmark, advancing as much as 0.7% to hit their highest since February last year.

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