Australia Tech Firms Outperform Peers in Best Quarter Since 2020

A gauge of Australia’s technology shares has advanced 20% so far in the second quarter, outperforming peers in the US and Asia as expectations of near-peak interest rates added to the artificial intelligence-driven momentum in the sector. A rotation from finance shares into technology firms also helped the S&P/ASX 200 Information Technology Index to be on track for its best three months since Dec. 2020.

advanced artificial artificial intelligence asia australia finance intelligence interest rates near peak rotation second quarter sector shares tech technology