The Australian sharemarket recovered from early losses to finish higher on Friday, as defensive sectors offset weakness in technology and real estate.
The S&P/ASX 200 closed 13.00 points, or 0.2%, higher at 7,982.00, with gains led by consumer staples and energy stocks.
Technology touched 7-month lows, with Xero down 2.1%, Appen falling 1.4%, BrainChip down 4.4%, and WiseTech Global dropping 4.3% as investors rotated out of risk-sensitive sectors.
Australian real estate companies also faced selling pressure. Goodman Group, Charter Hall, Stockland, and Lendlease finished 3.5%, 1.1%, 0.8% and 1.6% lower, respectively.
Gold miners provided a boost to the index, as spot prices pushed to fresh record highs.
Ramelius Resources was the session’s top gainer, surging 6.9%, while Northern Star surged 3.9% and St Barbara lifted 4.2%.
Among individual companies, Incitec Pivot slipped 1.5% after reporting delays in sales and output across its fertiliser and explosives businesses due to adverse weather conditions.
On the bond markets, 10-year and 2-year yields were 0.9% and 0.6% lower at 4.465% and 3.748%, respectively.
