ASX Midday Sector Update: Information Technology Stocks Lead Rally, All ASX Sectors in Green

MT Newswires Live

01-29

Information technology stocks surged past 2% at midday Wednesday, leading a broad-based rally, with all sectors on the Australian bourse trading in the green.

Annual trimmed mean inflation in Australia moderated to 3.2% in the December 2024 quarter from 3.6%, raising hopes of a rate cut by the Reserve Bank of Australia in February.

BluGlass (ASX:BLG) filed three US provisional patents for high-peak-power continuous wave tunable gallium nitride lasers, designed to address key requirements for quantum, aerospace, and biotech applications. The firm's shares rallied 13% in recent trade.

The real estate, energy, communication services, healthcare, and utilities sectors all rose past 1% in trading on the bourse.

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