By Oliver Gray
Investing.com - The S&P/ASX 200 added 25.5 points or 0.3% to 7,493.8 during Friday’s trade, extending gains for the 4th consecutive week and closing at 9-month highs as market participants rotated into the tech and real estate sectors.
Among stocks, Information Technology lifted 1.2% overall, with Block Inc (ASX:SQ2) up 0.7%, Megaport Ltd (ASX:MP1) adding 7.2% and Wisetech Global Ltd (ASX:WTC) lifted 2.6%.
Real estate gained 1.1% with Mirvac Group (ASX:MGR) adding 1.3%, Goodman Group (ASX:GMG) up 2.6%, Charter Hall Group (ASX:CHC) lifting 2.5% and Stockland Corporation Ltd (ASX:SGP) up 1.3%.
Meanwhile, Energy led the declines, down 1.8% as Whitehaven Coal Ltd (ASX:WHC) and New Hope Corporation Ltd (ASX:NHC) tanked 6.6% and 9% respectively, while Woodside Energy Ltd (ASX:WDS) lost 2.4% and Beach Energy Ltd (ASX:BPT) fell 1.6%.
On the data front, local PPI came in at 0.7%, well below estimates of 1.7% and falling from 1.9% in the previous quarter.
On the bond markets, Australia 10-Year rates were at fresh 6-month lows of 3.567% while United States 10-Year yields were at 3.529%.
In New Zealand, the NZX 50 added 0.1% to 12,036.1.