The ASX200 has been up 0.05% at 8,180 points in afternoon trade.
Wall Street rallied to near record highs in response to a surging US tech sector overnight.
Meanwhile, Iron Ore continues its downward trajectory and is now USD$105.50 per tonne. Yesterday morning, the price was higher at US$114 per tonne, showing excitement around China’s stimulus push is starting to wane.
Eight of the eleven sectors have been in positive territory, and Telecommunication is the best performer, up 1.4%, followed by, IT up 1.2% and Discretionary, up 1.1%.
Energy has been a drag on the market, down 2.2% and Materials shed 1.8% as iron ore slips.
Company News
AI healthcare play Echo IQ (EIQ) has been up more than 16.5% on news senior healthcare executive Dustin Haines has been appointed as Chief Executive Officer. Mr Haines will be based in the United States and his appointment starts on the 10th January.
Echo IQ has been 28 cents.
Novonix (ASX:NVX) has been up 11.6% on news of a deal with ICoNiChem Widnes – a UK based global leader in cobal and nick salts production. The two companies have signed an agreement to develop nickel based cathode active materials.
Equinox Resources (ASX:EQN) has been up 4.3% on maiden drilling results at Mata da Corda in Brazil. Initial RC drill results from seven holes, with an average depth of 22 metres, have returned high-grade rare earth and titanium dioxide results.
Equinox Resources has been 24 cents.
Woodside (ASX:WDS) has been down 1.6% as profit takers moved in after recent rises in the oil price linked to conflict in the Middle East.
Woodside has been trading at $25.90.