Stock Track | WiseTech Global Soars 7.27% as US-China Trade Deal Boosts Tech Stocks

Stock Track2025-05-13

WiseTech Global Ltd (WTC.AU) experienced a significant surge of 7.27% in Tuesday's trading session, as the Australian stock market rallied on the back of a temporary US-China trade deal. The software firm's shares reached their highest level since mid-February, reflecting strong investor confidence in the technology sector.

The broader Australian market, as measured by the S&P/ASX 200 index, climbed to a more than two-month high, with gains observed across most sectors. The positive sentiment was primarily driven by the announcement of a 90-day tariff reduction agreement between the United States and China, which sparked optimism about a potential de-escalation in the global trade tensions.

Technology stocks were among the top performers in the session, with the sector index gaining about 3.8% and touching its highest level since late February. WiseTech Global's impressive performance aligns with this trend, as investors appear to be favoring tech companies in the current market environment. The company's strong showing also suggests that it may be well-positioned to benefit from improved global trade conditions and increased demand for innovative software solutions.

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