Key points
- The information technology index is one of the best performing ASX 200 sectors on Tuesday
- Its being led by the share prices of Life360, Xero, and Appen
- The gains might be a reflection of Nasdaq-listed tech shares’ performance on Friday
The S&P/ASX 200 Info Tech Index (ASX XIJ) was leading the S&P/ASX 200 Index (ASX: XJO) for much of Tuesday.
The sector might have been bolstered by the day in the green experienced by many United States-listed tech giants on Friday.
Right now, the info tech sector is up 0.58%. That’s compared to the ASX 200’s 0.13% fall.
Let’s take a look at which shares are boosting the tech sector into the top spot on Tuesday.
These ASX 200 tech shares are among the market’s leaders today
ASX 200 tech shares are, together, outperforming much of the market today, potentially driven by Friday’s session in the United States.
The sector’s leaders include fan favourites, Xero Limited (ASX: XRO) and Appen Ltd (ASX: APX). Their share prices have gained 1.5% and 3% respectively.
One of today’s real gainers is Life360 Inc (ASX: 360) – its share price has surged 3.9% at the time of writing.
Finally, Tyro Payments Ltd (ASX: TYR) is bringing up the rear, having fallen 1.1%.
The sector’s movements might have been brought on by a much-needed good day for international tech shares on Friday.
The Nasdaq Composite gained 0.5% after the ASX closed on Friday. Prior to its most recent session, it had fallen 5% since the end of 2021.
According to reporting by the Wall Street Journal, the tipping point for Nasdaq tech stocks were warnings signs that the United States Federal Reserve might soon boost interest rates.
Though, the end of last week saw tech giant’s enjoying an uptick.
Alphabet Inc (NASDAQ: GOOGL) and Microsoft Corporation (NASDAQ: MSFT) both took advantage of the good day’s trade, gaining 0.6% and 1.77% respectively.
Meanwhile, Apple Inc (NASDAQ: AAPL) and Amazon.com Inc (NASDAQ: AMZN) each ended the day up 0.5%.
Their movements might have helped to boost ASX 200 tech shares today.
The post Here are the tech shares leading the ASX 200 on Tuesday appeared first on The Motley Fool Australia.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Alphabet (A shares), Appen Ltd, Life360, Inc., Microsoft, Tyro Payments, and Xero. The Motley Fool Australia owns and has recommended Appen Ltd and Xero. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, and Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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