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**ASX Closes: WiseTech Leads, Qantas Rises**

You need 2 min read Post on Oct 25, 2024
**ASX Closes: WiseTech Leads, Qantas Rises**
**ASX Closes: WiseTech Leads, Qantas Rises**



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ASX Closes: WiseTech Leads, Qantas Rises

The Australian share market closed higher on Wednesday, with WiseTech Global leading the gains and Qantas Airways rising strongly.

The benchmark S&P/ASX 200 index closed up 0.5% to 7,437.50 points, while the broader All Ordinaries index finished 0.4% higher at 7,664.10 points.

WiseTech Global, the logistics software provider, was the top performer on the ASX, closing 4.1% higher at $62.60. The company's share price surged after it announced a strong earnings update and outlined positive growth prospects.

Qantas Airways also performed well, climbing 2.7% to $6.42. The airline's share price rallied on optimism about the reopening of international borders and the strong demand for travel.

Other notable movers on the ASX included:

  • Fortescue Metals Group, up 1.5% to $21.13
  • Rio Tinto, up 1.2% to $114.66
  • BHP Group, up 0.8% to $48.09
  • Commonwealth Bank, up 0.6% to $107.29
  • Westpac Banking Corp, up 0.5% to $24.68

The Australian dollar was trading at US$0.7225, down slightly from the previous day's close.

Market analysts attributed the rise in the ASX to positive sentiment driven by strong corporate earnings and expectations of continued economic growth.

However, some caution remains, with inflationary pressures and interest rate rises still weighing on investor sentiment.

Looking ahead, the ASX is expected to remain volatile in the near term, as investors continue to monitor global economic developments and geopolitical risks.

Key takeaways:

  • The ASX closed higher on Wednesday, led by gains in WiseTech Global and Qantas Airways.
  • WiseTech Global's share price surged after a strong earnings update.
  • Qantas Airways' share price rallied on optimism about the reopening of international borders.
  • The Australian dollar was trading slightly lower against the US dollar.
  • Market analysts attributed the rise in the ASX to positive sentiment, but caution remains due to inflationary pressures and interest rate rises.

Stay tuned for further updates on the Australian share market.

**ASX Closes: WiseTech Leads, Qantas Rises**

**ASX Closes: WiseTech Leads, Qantas Rises**

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