The S&P/ASX 200 closed virtually unchanged at 9,022 on Tuesday, extending the prior session’s weakness as losses in technology shares offset gains among commodity-linked stocks. Local software names tracked Wall Street’s overnight sell-off amid renewed jitters around artificial intelligence. Accounting software provider Xero dropped 4.6%, while enterprise software firm Technology One and logistics software group WiseTech Global each declined about 3.7%.
Overall risk appetite remained muted after US President Trump cautioned countries against backtracking on recently negotiated trade agreements, following a US court ruling that struck down his emergency tariffs.
In contrast, the heavyweight mining sector advanced 1.1% to a record high, supported by a 0.1% rise in gold miners, which climbed to their strongest level since late January. Oil and gas producer Woodside Energy also gained 2.4%, hitting its highest level in more than 18 months after reporting a smaller-than-expected decline in annual profit on the back of higher output. That performance helped lift the energy sub-index by roughly 1.7%.
