ASX pares losses; tech, financials rally
Australia’s sharemarket pared earlier losses, buoyed by a rally in tech and financial companies, in a lacklustre first hour of trade.
The S&P/ASX200 was up 2.6 points, or less than 0.1 per cent, to 7140.8 by 11.19am after edging lower at the open. The benchmark gauge is trading in a narrow range as US debt ceiling talks in Washington keep most investors on the sidelines.
Bloomberg reported that Republican and White House negotiators were moving closer to an agreement to raise the debt limit and cap federal spending for two years, citing people familiar with the matter
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