ASX Set for Positive Opening as Global Tech Momentum Supports Gains in Mining and Technology

Highlights

• ASX expected to open higher following a strong finish on Wall Street

• Tech and mining sectors in focus amid global market optimism

• Broader market sentiment lifted by overnight gains in US technology stocks

The Australian share market is anticipated to start on a stronger note, with early movements expected to reflect overnight optimism in global equities. The Nasdaq Composite finished significantly higher in the previous session, offering a strong lead for Australian technology stocks. Alongside tech, the mining sector may also benefit from improved sentiment in global markets.

Performance Review of ASX in the Previous Session

The ASX 200 closed nearly flat in the prior session, following an intraday dip that was partially recovered by the end of trade. Early selling pressure weighed on the index, though late buying helped limit the losses. This performance occurred despite broader regional weakness and mixed cues from global markets. The subdued finish left the index slightly below recent highs, but technical indicators remain closely watched as market direction resets with new global data.

Global Developments Lifting Market Sentiment

Stronger gains in global equity markets, particularly in the US, have contributed to an uplift in local sentiment. The Nasdaq Composite led the charge among major indices, with technology stocks recording significant gains. The rally was broad-based, with several large-cap stocks in the information technology space rising sharply. Positive earnings results and easing concerns around interest rates have been cited as key drivers for the rebound in the US. This momentum is expected to influence sentiment on the ASX, particularly among companies aligned with global tech trends.

Focus on Key Sectors: Technology and Mining

Technology stocks in Australia are likely to reflect the strength seen in their US counterparts. Local tech firms often respond to movements in the US market, especially when the gains are driven by improved earnings or macroeconomic factors. The sector has been volatile in recent weeks but may see improved interest in early trade.

Meanwhile, mining stocks are also expected to feature prominently. Commodity prices have seen modest support, and movements in metals markets may play a role in shaping investor sentiment toward resource companies. Energy-related stocks could also experience renewed attention depending on overnight trends in crude and natural gas benchmarks.

What to Watch in Today’s Trading Session

Market participants will closely follow performance across technology and mining stocks as global cues influence early trade. Movements in the broader index will likely be shaped by investor response to corporate updates, macroeconomic data releases, and continued tracking of overseas markets. Additionally, developments in commodity prices and currency fluctuations could contribute to intraday volatility.

Large-cap names within the tech and resources space are expected to be among the most actively traded stocks. Market volumes may see an uptick, especially during the opening session, as traders react to the positive momentum from international exchanges.

Macro and Global Themes in Focus

Attention also remains on global macroeconomic developments, including data on manufacturing, employment, and inflation from key economies. Central bank policy remains a background theme, with market expectations shifting in response to new data and official comments. These elements may play a role in determining how markets position in the coming sessions.

While the broader tone remains influenced by external factors, local market dynamics and corporate disclosures will continue to shape day-to-day performance. The response to early gains will be critical in assessing whether the ASX can sustain upward movement throughout the trading session.