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Date : 20/01/2021

Tech Stocks Lead the Australian Market Higher at Noon

The ASX index had a positive session today and it was led by the technology stocks, picking up where the US tech stocks left off last night. The S&P ASX All Technology index rose by 1.85% today and the broader ASX 200 index rose by 0.41%.

The new Treasury Secretary in the USA, Janet Yellen appeared before the Senate Finance Committee last night and demanded a stimulus package to support the economy. On the subject of corporate taxes, she went on to add that raising corporate tax would only occur once the economy recovers.

These stimulus talks and low corporate taxes for the time being raised investor confidence, and both the US stock market and the ASX markets rose on the back of it. Technology still continues to be mainstream among investors and it’s essential to add a few of the top tech stocks to investor portfolios.

Conclusion

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