AU Morning Wrap | ASX 200 rises as technology sector recovers

On Wednesday, the $Nasdaq Composite Index (.IXIC.US)$ reached an all-time intraday and closing high, surpassing 20,000 points milestone for the first time. The index rose 1.8% to 20,050 during late trading and ultimately closed up by 1.77%. $S&P 500 Index (.SPX.US)$ closed up 0.82%, and $Dow Jones Industrial Average (.DJI.US)$ down 0.22% following the close bell. $Tesla (TSLA.US)$ reached its record high.

Following the stronger expectation of rate cut by the US Federal Reserve next week, the Australian stock market experienced a higher opening. The $S&P/ASX 200 (.XJO.AU)$ rebounded attributable to technology and Consumer Discretionary stocks' rally. The benchmark increased by 0.3%, or 26.3 points to 8379.9 following the opening bell. 9 out of 11 sectors opened in increase.

As of latest data, $比特币(BTC.CC)$ is priced at $101,189.08, up 4.69% in the past 24 hours, while $以太坊(ETH.CC)$ is priced at $3,827.62, up 5.32% in the past 24 hours.

$Downer EDI Ltd (DOW.AU)$'s stock declined by 0.9% following the initiation of legal proceedings against the company by the Australian Competition and Consumer Commission.

$oOh media Ltd (OML.AU)$, the leading outdoor advertising firm in Australia, saw its shares rise by 2.1% after it announced significant cost reductions of at least A$15 million to cope with tough market conditions.

$Syrah Resources Ltd (SYR.AU)$, an industrial minerals firm, plummeted 26% after declaring force majeure at its Mozambican Balama Graphite facility due to widespread protests that erupted in the wake of a contentious general election.

$Orora Ltd (ORA.AU)$, a manufacturer of glass bottles and cans, experienced a 0.8% increase as it had sold its North American operations for A$1.7 billion.

$Capstone Copper Corp (CSC.AU)$, a metal producer, rose 1.8%, as Citi gave it a "buy" rating due to its strong earnings growth.

$Spark New Zealand Ltd (SPK.AU)$ increased by 2% since it had divested its final shares in the mobile towers company CDPQ for $NZ314 million (approximately A$285 million).

$HMC Capital Ltd (HMC.AU)$ climbed 3.9%, as Morgan Stanley raised its target price referring to growth in platform and fee.

$IPH Ltd (IPH.AU)$, a provider of intellectual property services, surged by 4.5% following the announcement that the company would initiate a share repurchase program.