Shares finished Friday up 0.23 per cent, or 16.6 points to 7154.8 points for their first gain in five trading sessions to end a week punctuated by worries over US debt ceiling negotiations down 1.9 per cent.
On the week, the index dropped 1.7 per cent, the worst weekly decline in more than two months.
The technology sector’s broad gains came after a blowout sales forecast from US computer chip and artificial intelligence services group Nvidia, which surged 24.4 per cent or $US195 billion in market value over a single trading session.
Technology shares advanced 1.55 per cent on the S&P/ASX 200 Index. Computer chip hopeful Brainchip caught Nvidia’s updraught to climb 6.2 per cent to 43¢.
While shares in $5.3 billion electronic circuit board software business Altium advanced 3.6 per cent to $39.85 to take its gains to 8 per cent over the last two trading sessions. Elsewhere, data centre business Megaport jumped 6.2 per cent to $6.84.
Shares in New Zealand-based healthcare giant Fisher & Paykel tumbled 6.3 per cent to $22.48 after it posted a net profit down 34 per cent to $NZ250.3 million on sales off 6 per cent to $NZ1.58 billion for financial 2023.
Andrew Forrest, a major Sun Cable shareholder alongside Mike Cannon-Brookes’ Grok Ventures before the project collapsed into administration, said on Friday that “Squadron Energy did not participate in the final binding bid process” and that he remained “unconvinced of the commercial viability” of the project.