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ASX 200 flat at 9-month peak, tech rally continues

Published 24/01/2023, 11:19 am
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By Oliver Gray 

Investing.com - The S&P/ASX 200 was little changed at 7,459.9 after the first 80 minutes of Tuesday's trade, following slight gains of 0.1% in the previous session and tracking U.S. equities higher overnight as investors continued their rotation into technology stocks.

ASX 200 Futures were pointing 0.3% lower.

Among stocks, Block Inc (ASX:SQ2) added 6.4%, Appen Ltd (ASX:APX) lifted 3.5% and Brainchip Holdings Ltd (ASX:BRN) gained 1.5%.

Real estate also gained 1.2% as Goodman Group (ASX:GMG) added 2.5%, Mirvac Group (ASX:MGR) lifted 1.1%, Charter Hall Group (ASX:CHC) gained 2% and Stockland Corporation Ltd (ASX:SGP) added 0.4%,

On the data front, Manufacturing and Services PMIs came in at 49.8 and 48.3 respectively, while investors await upcoming NAB business confidence data.

On the bond markets, Australia 10-Year rates were at 6-week lows of 3.48%, while United States 10-Year rates were at 3.512%.

In New Zealand, the NZX 50 was up 0.3% to 11,978.2.

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