ASX200 Opens Higher as Tech, Data Centre, and Energy Stocks Lift Market Sentiment

3 min read | May 29, 2025 11:29 AM AEST | By Team Kalkine Media

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ASX200 Opens Higher as Tech, Data Centre, and Energy Stocks Lift Market Sentiment — Image source: shutterstock

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Highlights

ASX200 sees a positive start driven by tech and data centre stocks

Nvidia’s strong result fuels optimism across global markets

NextDC, DigiCo, and Woodside among top early movers

The Australian sharemarket opened on a strong note, with the ASX200 climbing 0.3% or 21.6 points to 8418.5 within the first 25 minutes of trade. Positive momentum came as investors responded to upbeat earnings from US chipmaker Nvidia and easing concerns around trade tensions.

Nvidia's announcement of a 69% surge in first-quarter sales and expansion plans for its Blackwell chip line sparked global interest, especially after its chief executive outlined growing investment interest from the Middle East. The bullish commentary helped lift sentiment across Wall Street, with Nasdaq 100 futures up 1.7% and S&P 500 futures gaining 1.4%.

Locally, industrials led the charge as nine of the 11 sectors traded in the green. The All Ordinaries Index also ticked up by 0.2%, reinforcing the broad-based optimism.

ASX-listed data centre and technology infrastructure stocks were key beneficiaries. NextDC (ASX:NXT) advanced 3.1%, while DigiCo Infrastructure REIT (ASX:DCG) rose 2% in early trade, mirroring global enthusiasm in the tech and data services segment. These sectors are gaining traction, especially amid the growing focus on AI and next-generation cloud infrastructure.

Champion Iron (ASX:CIA) added 2.6% after reporting a 44% rise in fourth-quarter earnings, bolstered by record iron ore concentrate sales. Meanwhile, Woodside Energy (ASX:WDS) extended its prior gains with a 2.1% jump after securing government approval to prolong the life of its North West Shelf gas project, supporting strength in energy-related shares.

Banking and industrial heavyweights also contributed to the upbeat tone. Commonwealth Bank (ASX:CBA) and National Australia Bank (ASX:NAB) gained 0.8% each. Infrastructure leader Transurban (ASX:TCL) rose over 1%, joined by Qantas Airways (ASX:QAN), which also posted early gains above 1%.

Elsewhere, Elders (ASX:ELD) eased 1% after regulatory concerns were raised by the ACCC regarding its proposed acquisition of Delta Agribusiness. Resolute Mining (ASX:RSG) slumped 5.6% as the company sought clarity from the Guinean government on the status of its local mining permits.

With a variety of sectors performing well, investors are also keeping an eye on ASX dividend stocks, which continue to attract attention amid steady corporate updates and government decisions influencing the resource and banking sectors.

The day’s gains, supported by strong external cues and solid domestic company performance, have laid a positive foundation for broader optimism around the ASX200.

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