Tech leads ASX 200 in August
The Australian tech sector gained 15% in August as the ASX 200 reports its fifth consecutive month of share price gains.
According to data from S&P Dow Jones indices, the ASX 200 returned 3% in August and had seen the best five-month period since 2009. However, it would need to return a further 18% to make it back to its all-time high before the March crash.
August’s performance was led by the S&P ASX 200 Information Technology sector which returned 15% during the month and took the sector’s year-to-date performance to 36%.
Performance of ASX 200 information technology sector versus ASX 200 during August
However, the research firm pointed out, the tech sector only made up 4% of the wider ASX 200 index.
Instead, sectors such as financials and materials which made up the largest part of the index each saw muted monthly returns of 1%.
The only three sectors to report losses during the month were the consumer staples, utilities and communication services. Since the start of the year, seven sectors remained in negative territory with the worst performance coming from the energy sector which had lost 35%.
Performance of ASX 200 consumer staples, utilities and communication services sector during August
AUTHOR
Laura Dew
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