Australia's tech stocks slump; set for a weekly gain as Nasdaq roars to record
ReutersAug 8, 2025 5:30 AM
** Australian technology stocks .AXIJ are down 0.7%, but still on track for a 2% weekly gain
** Sub-index currently down in tandem with overnight Wall Street losses .N
** However, AXIJ set for its best week since July 18 after tech-heavy Nasdaq hit a closing high overnight; its 17th closing high so far in 2025
** ASX shares of U.S.-based Life360 360.AX LIF.O are down 4% but still set for its fourth straight weekly gain
** Logistics software co WiseTech Global WTC.AX down 1.4%, while Megaport MP1.AX falls 1.2%
** YTD, AXIJ is up 9.9%
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