WiseTech Global Ltd (WTC.AU) saw its stock price surge by 12.39% during Thursday's trading session, as Australian tech stocks rallied following news of President Donald Trump's decision to pause tariff rollouts. The move sparked a broader market upswing, with the tech sector leading the charge.
The Australian tech stocks index (.AXIJ) experienced its most significant percentage gain since early November 2011, soaring more than 11% to 2,339.10 points. This surge was part of a global market rally, with Wall Street seeing sharp rebounds across major indices. The S&P 500 jumped 9.5%, marking its largest daily percentage gain since 2008, while the Nasdaq rose an impressive 12.2%.
WiseTech Global's substantial gain outpaced the already impressive 9.8% climb reported earlier in the day, indicating continued investor optimism throughout the session. The company, along with other Australian tech firms like Xero, which saw gains of up to 11.3%, benefited from the improved market sentiment. This rally underscores the tech sector's sensitivity to global trade developments and highlights WiseTech Global's position as a key player in the Australian technology landscape.
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