- The ASX200 was up 0.549% at 7520.100 points at 11:57 AM AEST today.
- A total of 10 out of 11 sectors traded higher on ASX today.
- At 12:12 PM AEST, the S&P/ASX 200 Information Technology sector (ASX:XIJ) was 0.912% higher at 1758.000 points.
The Australian share market moved northward for the second consecutive day today (April 14), thanks to mining and energy stocks. The benchmark index ASX200 was up 0.549% at 7520.100 points at 11:57 AM AEST.
Meanwhile, the tech stocks recovered slightly today after days of what may be called not “up to the mark” performance. At 12:12 PM AEST, the S&P/ASX 200 Information Technology sector (ASX:XIJ) was trading 0.912% higher at 1758.000 points. The technology index has fallen by 1.10% in the last five days.
Rising interest rates, the recent surge in Treasury yields and inflation concerns continue to impact investors’ thinking about investing in tech stocks. Many tech stock enthusiasts are in a dilemma on whether they should bet on technology stocks in the current increasing interest rate regime. It is to be noted that an increase in interest rates leads to a rise in the cost of funding, and thus hawkish investors tend to incline more toward cash and yielding investments like property and bonds.
The Hang Seng Tech Index was up 0.97% at 4310.23 points at 10.34 AM HKST. What has probably lifted the Chinese tech stocks is the approval granted by Beijing to the new video game licenses.
Meanwhile, the NASDAQ-100 Technology Sector Index (NDXT) was 2.81% at 7856.57 points. Overall, we can say that today is relatively a good day for tech stocks, particularly the ASX-listed ones.
In this article, we will talk about the three ASX-listed technology stocks, Altium Limited (ASX:ALU), WiseTech Global Limited (ASX:WTC), and Block Inc (ASX:SQ2). We will look at how these stocks performed during today’s intraday trading session.
Altium Limited (ASX:ALU):
Today, the share price of Altium Limited (ASX:ALU) was spotted trading 1.099% higher at AU$33.110 per share on ASX at 1:12 PM AEST. Altium shares have gained 14.49% in the last one year, while the stock has declined almost 26% year-to-date (YTD).
Altium Limited (ASX:ALU) is an ASX-listed US-based information technology company with a market capitalisation of AU$4.30 billion.
The company has a PE ratio of 77.1 and an EPS of AU$0.425. The company made a dividend payment of about AU$0.210 per share on 22 March 2022.
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WiseTech Global Limited (ASX:WTC)
The shares of WiseTech Global Limited were down 0.254% at AU$47.160 per share on ASX at 12:47 PM AEST on Thursday. In the last 12 months, WiseTech shares have gained almost 45%, while the stock is down 21% YTD. WiseTech Global Limited is an ASX-listed Australian company that provides cloud-based software solutions to the logistics industry. The company commands a market capitalisation of AU$15.42 billion, and its shares are placed with a PE ratio of 109.1. The company paid a fully franked interim dividend of AU$0.047 per share on 8 April. WiseTech’s 1H22 underlying EPS was 23.7 cents per share, up almost 77% on 1H21.
Block Inc (ASX:SQ2)
Today, Block Inc shares traded 1.575% higher at AU$167.600 per share on ASX at 1:48 PM AEST. The share price of Block Inc has fallen 5.12% on both YTD as well as in the last 12 months. Block Inc. is an ASX-listed US-based company that provides digital payment services. The company has a market capitalisation of around AU$88.21 billion. This week, the company announced half-yearly results of its newly ‘acquired’ business Afterpay. Afterpay is no longer listed on ASX; earlier, it used to trade on ASX under the code APT.