ASX tech shares showed signs of recovery today, outperforming the broader S&P/ASX 200 Index (ASX: XJO).
The S&P/ASX All Technology Index (ASX: XTX) climbed 0.89%, while the S&P/ASX 200 Info Tech Index (ASX: XIJ) jumped 0.97%. In contrast, the ASX 200 fell 0.51%.
Let’s take a look at how the technology sector fared today.
Tech recovery
ASX 200 technology shares Megaport Ltd (ASX: MP1) and WiseTech Global Ltd (ASX: WTC) gained 1.78% and 0.26% respectively. Meanwhile, Altium Limited (ASX: ALU) rose 2.21% and TechnologyOne Ltd (ASX: TNE) finished 0.97% in the green.
Another ASX tech share that performed well today was ELMO Software Ltd (ASX: ELO). The cloud-based HR and payroll software company reported it had delivered more strong growth during the first half of FY22. Elmo’s share price gained 3% in today’s trade.
Appen Ltd (ASX: APX) also climbed 1.93%, while Xero Limited (ASX: XRO) jumped 0.29% and Computershare Limited (ASX: CPU) increased 0.22%.
Buy now, pay later share Block Inc CDI (ASX: SQ2) ascended 4.23%, while Zip Co Ltd (ASX: Z1P) dipped slightly by 0.37%.
The Block share price gained on the back of its New York Stock Exchange listing Block Inc (NYSE: SQ) jumping 3.49% in Monday’s session. Intel Corporation (NASDAQ: INTC) announced Block will be among the first three customers to use its new blockchain accelerator.
ASX tech shares often follow in the steps of their US counterparts, however today they outperformed them. The Nasdaq-100 Technology Sector Index (NASDAQ: NDXT) climbed 0.18% in the United States on Monday. As dailyfx reported, US markets ended broadly lower on Monday, but technology shares bucked this trend and finished slightly ahead. Tesla Inc (NASDAQ: TSLA) gained 1.83%, while Nvidia Corporation (NASDAQ: NVDA) and Amazon.com Inc (NASDAQ: AMZN) finished 1.33% and 1.22% in the green respectively.
ASX tech share summary
The All Technology Index has descended 19% over the past year, while it is down 16% year to date.
Meanwhile, the Info Tech index has fallen 26% in the past year and 18% year to date.
For comparison, the ASX 200 has gained nearly 5% in the past year and dropped 3% year to date.
The post How did ASX tech shares perform today? appeared first on The Motley Fool Australia.
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More reading
- Why is the Block (ASX:SQ2) share price squaring away such healthy gains today?
- The Zip (ASX:Z1P) share price hit another 52-week low this week. Is now the time to buy?
- ELMO Software (ASX:ELO) share price higher after reporting more stellar growth
- 2 quality ASX tech shares for investors after the selloff
- These are the 10 most shorted ASX shares
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Altium, Appen Ltd, Block, Inc., Elmo Software, MEGAPORT FPO, WiseTech Global, Xero, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Appen Ltd, Elmo Software, WiseTech Global, and Xero. The Motley Fool Australia has recommended Amazon, MEGAPORT FPO, and Nvidia. 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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