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Afternoon update: ASX up 0.36% with IT leading the way

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2023-08-01

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The S&P/ASX 200 is performing well today, up by 0.36 per cent so far.

The SPI futures are also looking positive, up by 35 points.

In terms of sectors, the Information Technology sector is leading the way with a gain of 0.94 per cent, while the Industrials sector is down 0.21 per cent, making it the worst-performing sector.

Among the large-cap companies, TPG Telecom (ASX:TPG) is the top performer, trading 6.77 per cent higher at $5.36. Following closely behind are ALS (ASX:ALQ) and Lynas Rare Earths (ASX:LYC).

Tamboran Resources (ASX:TBN) has commenced drilling at Shenandoah South 1H.

On the other hand, Infratil (ASX:IFT) is the worst-performing large-cap, trading 2.78 per cent lower at $9.10, with Yancoal Australia (ASX:YAL) and EBOS Group (ASX:EBO) also experiencing declines.

Now, let's take a look at the Asian markets. Japan's Nikkei has gained 0.67 per cent, while Hong Kong's Hang Seng has seen a slight dip of 0.01 per cent. China's Shanghai Composite, on the other hand, is up by 0.21 per cent.

In commodities, gold is trading at US$1,998.70 (one thousand nine hundred and 98 dollars and 70 cents) an ounce, and light crude is trading at US$81.64 a barrel, which is $0.16 lower.

Lastly, the exchange rate stands at one Australian dollar buying 66.95 US cents.

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