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Highlights

  • AXIJ sub-index jumps 4.5% to its highest level since February 24, 2025.

  • Life360 leads gains on strong Q1 earnings; WiseTech, Megaport, and SiteMinder also rally.

  • The rally mirrors Wall Street's overnight boost from the temporary US-China tariff relief.

Australian technology stocks soared on Tuesday, with the S&P/ASX 200 Information Technology Index (XIJ) climbing as much as 4.5% to 2,698 points. The rally was largely in lockstep with Wall Street's overnight rebound, which came after the United States and China signed a deal to temporarily reduce tariffs

Wall Street Rally Boosts Sentiment

The overnight deal saw the U.S. slash tariffs on Chinese imports from 145% to 30% for a 90-day period, while China cut its retaliatory duties from 125% to 10%. The détente helped ease global economic fears, particularly those centered on supply chains and tech trade.

Life360 Shines on Strong Earnings

The ASX-listed shares of California-based Life360 (ASX:360) emerged as the top percentage gainer on the broader S&P/ASX 200 Index (.AXJO). Investors responded positively to the company’s strong Q1 results.

Tech Heavyweights Ride the Wave

Other notable performers included:

  • WiseTech Global (ASX:WTC): Up 7%, buoyed by renewed investor confidence in the global logistics software provider amid stabilising trade outlooks.

  • Megaport (ASX:MP1): Gained 6%, reflecting optimism in enterprise connectivity demand.

  • SiteMinder (ASX:SDR): Rose 5.1%, continuing its rebound on post-pandemic travel tech recovery expectations.

Despite Tuesday’s rally, the AXIJ sub-index remains down 1.9% year-to-date.