Healthcare stocks climbed almost 2% at midday Monday, rebounding after a decline on Friday in the wake of a new pharmaceutical tariff regime announced by the US. Investors are waiting for the Australian central bank's policy meeting on Tuesday. It is expected to hold rates steady.

Clinuvel Pharmaceuticals (ASX:CUV), whose shares rose over 2%, said it progressed a preclinical program evaluating various drug release profiles with sustained-release liquid drug formulations, with the program for the first formulations expected to be completed in the second half of 2026.

On the flip side, the information technology sector shed 0.6%.

NOVONIX (ASX:NVX), whose shares were up over 17%, said it delivered the first industrial-grade mass production sample of synthetic graphite produced via its continuous graphitization furnace technology to a North American value-added carbon processor.