Australian shares are expected to open higher on Thursday, tracking a rebound in global risk sentiment driven by a strong finish for US technology stocks.
The S&P/ASX 200 index is set to continue its upward trajectory as investors digest mixed but impactful results from major US tech firms, with semiconductor names ending the quarter on a positive note and Apple shares rebounding from recent lows.
The S&P 500 rallied approximately 1% in the session, helping to lift broader risk appetite ahead of the Australian open.
The positive tone in Sydney is mirrored across global markets, with Europe’s STOXX 600 index clocking a 10% gain for the quarter.
The S&P 500 rallied approximately 1% in the session, helping to lift broader risk appetite ahead of the Australian open.
Dip buyers have returned to the market, particularly in the technology sector, where the Nasdaq’s pace of gains is providing a tailwind for local tech-heavy listings.
This opening marks the start of the new fiscal year for Australian markets, with investors looking to build on the momentum from the previous quarter.