Information technology stocks lead a broad-based rebound on the Australian Securities Exchange, surging past 7% at midday Thursday. All ASX sectors were trading in the green.
Stocks on Wall Street soared in a relief rally after US President Donald Trump announced a 90-day pause on tariffs above the 10% base duty imposed on imports into the US for all countries except for China. The technology stocks-heavy Nasdaq Composite surged 12%, while the S&P 500 climbed 9.5%, and the Dow Jones Industrial Average soared 7.9%, their biggest single-day gains in years.
Eroad (ASX:ERD, NZE:ERD) received notice that UBS Group and its affiliates are no longer substantial holders of the company, effective Wednesday. UBS Group became ERD's substantial holder on March 19.
The energy sector rose about 7%, and the materials sector climbed 6%.
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