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Australia: Shares end near record high on tech gains

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Australian shares closed near their best levels on Monday, with tech stocks being the top performers after US peers led a rally on Wall Street.

[SYDNEY] Australian shares closed near their best levels on Monday, with tech stocks being the top performers after US peers led a rally on Wall Street.

The S&P/ASX 200 index rose 0.5 per cent or 32.4 points to 6,825.80 at the close of trade, 3 points short of its highest ever close. The benchmark slipped 0.4 per cent on Friday.

Gains were underpinned by tech stocks, which climbed to their highest ever level following robust results of US peers on Friday.

US focused buy-now-pay-later firm Afterpay Touch Group Ltd firmed 4 per cent to an over one-month peak, while Nearmap Ltd hit its highest since July 12.

Broader risk-sentiment was supported by bets that the US Federal Reserve would flag the beginning of a policy easing cycle later this week.

In New Zealand, the benchmark S&P/NZX 50 index rose 0.4 per cent or 43.75 points to finish the session at 10,851.36, not far from an all-time closing high hit last week.

REUTERS

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