ASX200 Inches Up as Tech and Uranium Stocks Outperform Amid Mining Weakness

June 18, 2025 04:54 PM AEST | By Team Kalkine Media

ASX200 Inches Up as Tech and Uranium Stocks Outperform Amid Mining Weakness — Image source: Shutterstock

Tech Sector Fuels Momentum

Leading the charge were technology stocks, with robust performances from key sector players. Technology One (ASX:TNE) climbed 2.2%, bolstered by continued confidence in its enterprise software solutions. WiseTech Global (ASX:WTC) followed with a 2% uptick, underpinned by optimism around global trade logistics technology. Meanwhile, cloud accounting firm Xero (ASX:XRO) gained 1%, further lifting the tech index.

These upward moves positioned the tech sector as a central driver of today’s modest rally, helping the broader ASX200 stocks stabilize amid mixed signals from global markets.

Uranium Stocks Shine

Energy-linked stocks, particularly uranium producers, also featured prominently among the day's strongest performers. Deep Yellow (ASX:DYL) surged 4.8%, marking the session’s best gain on the ASX200, as investors responded positively to a revised outlook that pointed to improved fundamentals. Boss Energy (ASX:BOE) also advanced 4%, buoyed by news that its Honeymoon project achieved full-year production targets — a significant milestone for the company and the uranium sector more broadly.

The resurgence of uranium-focused firms underlines a renewed market interest in alternative energy assets amid global decarbonization narratives and increasing demand for clean energy sources.

Mining Sector Weighs Down Broader Sentiment

However, not all sectors participated in the rebound. The mining segment was the clear laggard, shedding 1.6%. Key iron ore players like Fortescue (ASX:FMG) and BHP (ASX:BHP) posted declines of 4.3% and 1.3%, respectively. Further compounding the sector’s struggles, Mineral Resources (ASX:MIN) dropped 5%, while Ramelius Resources (ASX:RMS) and Liontown Resources (ASX:LTR) each slid over 4%.

These losses were driven by concerns around iron ore price volatility and softening demand expectations, adding pressure on the resource-heavy component of the ASX200.

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