{"id":114345,"date":"2026-03-07T07:05:54","date_gmt":"2026-03-07T10:05:54","guid":{"rendered":"https:\/\/tech.einnews.com\/article\/897795883"},"modified":"2026-03-07T07:05:54","modified_gmt":"2026-03-07T10:05:54","slug":"tech-bytes-asx-tech-rallies-against-the-market-slump","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/03\/07\/tech-bytes-asx-tech-rallies-against-the-market-slump\/","title":{"rendered":"Tech Bytes: ASX tech rallies against the market slump"},"content":{"rendered":"
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Rising oil prices and renewed geopolitical tensions have rattled global markets this week, pushing the broader Australian sharemarket lower \u2014 but technology stocks are moving the other way.<\/p>\n

The S&P\/ASX 200 fell more than 1% by Friday afternoon as investors digested the latest jump in crude prices and the possibility that higher energy costs<\/a> could delay long-anticipated interest rate cuts. Yet the technology sector has proved a rare bright spot, with the S&P\/ASX 200 Information Technology index climbing sharply over the past two sessions.<\/p>\n

By 1 pm AEDT on Friday, the tech index was up about 3.5% on the day, extending a strong rebound that began earlier in the week even as the benchmark market continued to slide.<\/p>\n

The divergence highlights how quickly sentiment can shift in technology stocks \u2014 particularly after a prolonged sell-off that had left many names deeply discounted heading into 2026.<\/p>\n

A rebound after a brutal stretch<\/h4>\n

The sector\u2019s rally follows months of heavy losses. Many local tech companies entered the year down sharply from previous highs as rising interest rates and geopolitical tensions weighed on growth stocks globally.<\/p>\n

That earlier weakness has now created room for a rebound. In recent sessions investors have been rotating back into software and platform companies, even as energy-driven inflation fears have rattled other sectors.<\/p>\n

The broader market\u2019s latest wobble has been linked largely to the surge in oil prices<\/a> following escalating tensions in the Middle East and the closure of the Strait of Hormuz. Higher energy costs raise the prospect that central banks may need to keep interest rates higher for longer \u2014 a scenario that has weighed heavily on consumer-facing industries, airlines and smaller cyclicals.<\/p>\n

Yet software and technology businesses have held up comparatively well, both in the US and Australia.<\/p>\n

Global tech momentum spills onto the ASX<\/h4>\n

Part of the explanation lies offshore. Global software stocks have been climbing steadily over the past couple of weeks, with US-listed technology funds pushing to one-month highs.<\/p>\n

Strong earnings from semiconductor giant Broadcom Inc (NASDAQ:AVGO, XETRA:1YD)<\/a> added to that momentum this week, with the company highlighting explosive growth<\/a> in artificial intelligence-related chip demand and forecasting a massive expansion in AI infrastructure over the next several years.<\/p>\n

The strength in US software stocks has spilled over into Australian-listed tech names, many of which operate in similar enterprise software and cloud infrastructure niches.<\/p>\n

Large-cap leaders drive the move<\/h4>\n

Several of the ASX\u2019s biggest tech names have led the recent rebound.<\/p>\n

Logistics software group WiseTech Global jumped more than 6% by Friday afternoon, continuing a recovery that has gathered pace over the past few sessions, and software provider Xero Inc (ASX:XRO)<\/a> gained nearly 6%.<\/p>\n

Travel technology company SiteMinder was among the standout movers, rising more than 12% in intraday trading as mid-cap tech names joined the rally.<\/p>\n

Network-as-a-service provider Megaport Ltd (ASX:MP1)<\/a> also posted solid gains of more than 4%.<\/p>\n

Other notable risers across the sector included companies such as PRO MEDICUS LIMITED (ASX:PME)<\/a>, SEEK and Technology One Limited (ASX:TNE)<\/a>, while cybersecurity and defence technology group DroneShield Ltd (ASX:DRO, OTC:DRSHF)<\/a> also appeared among the day\u2019s top performers on the ASX 200 leaderboard.<\/p>\n

Relief rally gathers pace<\/h4>\n

Another factor behind the move may simply be how far the sector had already fallen.<\/p>\n

Many ASX technology stocks entered 2026 deeply discounted after a long period of selling pressure driven by higher interest rates and broader risk aversion. Even after the latest rebound, several of the sector\u2019s best-known names remain well below their previous highs. That backdrop can make the sector particularly sensitive to shifts in sentiment.<\/p>\n

For now, the contrast remains striking: while rising oil prices and geopolitical tensions are weighing on the broader market, technology stocks have become one of the few bright spots on the ASX.<\/p>\n

Whether the rally marks the beginning of a sustained turnaround or simply a short-term rebound is unclear\u2014 but after months of heavy losses, investors are once again paying close attention to the tech sector.<\/p>\n

<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

… Australian sharemarket lower \u00e2\u0080\u0094 but technology<\/span> stocks are moving the other … pm AEDT on Friday, the tech<\/span> index was up about 3 … heavy losses. Many local tech<\/span> companies entered the year down … the US and Australia. Global tech<\/span> momentum spills onto the ASX …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-114345","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/114345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=114345"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/114345\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=114345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=114345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=114345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}