Australia's ASX 200 rises as tech stocks lead gains
Market sentiment improved after U.S. futures edged higher, supported by gains in chip stocks on Wall Street and optimism around artificial intelligence. Hopes for Middle East talks at the UN and the upcoming U.S.-China summit also supported risk appetite.
Investors moved into technology, consumer, manufacturing and services stocks. However, gains were limited after Australia?s central bank warned that inflation risks could be picking up, with high energy costs and firm domestic demand raising expectations of a possible rate hike next week.
Markets are also waiting for Australia?s September PMI and August employment data later this week. Technology stocks led the gains, with Nextdc up 3.6%, Technology One 2.9% and Wisetech Global 2.8%. Lynas Rare Earths, ASX Ltd. and Qantas Airways also posted solid gains.
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