Information technology stocks jumped 2.8% at midday Thursday, tracking gains on Wall Street.

This came after a report showed that the US Federal Reserve's preferred gauge of inflation, the personal consumption expenditures price index, stagnated in March, raising the prospect of a rate cut.

Weebit Nano (ASX:WBT) and DB HiTek are set to demonstrate the integration of Weebit's embedded Resistive Random-Access Memory (ReRAM) non-volatile memory technology into the Korean specialty foundry's silicon at a power semiconductor exhibition in Germany slated for May.

On the flip side, the energy sector struggled, falling 1.4%. Oil prices posted the biggest monthly percentage declines since November 2021 on Wednesday.

Karoon Energy (ASX:KAR) said its wholly-owned Brazilian unit, Karoon Petroleo & Gas, completed the acquisition of the Bauna floating production, storage, and offloading vessel, the Cidade de Itajai, from Altera & Ocyan for a total consideration of $115 million plus around $8 million in transaction costs.