Bloomberg Tech

Australia Tech Firms Outperform Peers in Best Quarter Since 2020

A gauge of Australia’s technology shares has advanced 20% so far in the second quarter, outperforming peers in the US and Asia as expectations of near-peak interest rates added to the artificial intelligence-driven momentum in the sector. A rotation from finance shares into technology firms also helped the S&P/ASX 200 Information Technology Index to be on track for its best three months since Dec. 2020.