The Australian sharemarket on Monday bounced back from its worst one-day loss since US President Donald Trump's "liberation day" with $65 billion wiped from the market on Friday, as investors snapped up technology and mining stocks.
The S&P/ASX 200 Index rose 132.20 points, or by 1.5 per cent, to 8841 at 10.10am AEDT , with all 11 sectors up. It comes after Friday's pullback of 2 per cent, driven by sliding commodity prices, concerns about artificial intelligence and a dive in bitcoin triggering broad equity derisking.
After falling nearly 13 per cent last week on concerns about artificial intelligence capex and redundancy of software makers, the ASX technology sector had a strong start to Monday on dip buying. WiseTech Global rallied 4.6 per cent, NextDC 4.8 per cent and TechnologyOne 4.9 per cent.
Miners were buoyed by a rebound in commodity prices, with gold up 4 per cent towards $US5000 an ounce and silver up 1.7 per cent so far this session to $US79.15. Newmont soared 5.1 per cent, Northern Star 2.2 per cent, South32 3.4 per cent, and BHP by 2.2 per cent.
Reporting season also started to ramp up with Car Group rocketing 10.1 per cent after it met market expectations with a profit of $143 million, which was up 16 per cent.
Moomoo Australia market strategist Michael McCarthy said Australian shares would continue to be volatile this week as reporting season ramps up, with expectations U-shaped and analysts' consensus pointing to low double-digit percentage revenue gains.
"Recent volatility and price pressure in gold, silver, cryptocurrencies and technology stocks means investors remain on edge. Company results could once again drive big single stock reactions, pushing stocks to soar on strong numbers and sink on less than perfect results."
Stocks in focus
Seek edged up 0.5 per cent as it recognised a $356 million post-tax impairment charge in its first-half results, tied to its investment in China-based job platform Zhaopin. Its stake in Zhaopin fell from a value of $529 million to $182 million.
Pepper Money surged 25 per cent as it confirmed a $2.60 per share takeover bid from Challenger to acquire 100 per cent of the company. Shares in Challenger fell 3.7 per cent.
Web Travel surged 10.5 per cent as it reiterated its full-year earnings guidance of $147 million to $155 million after its shares slid almost 30 per cent on Friday from news that its Spanish subsidiary would be audited.
Dexus Convenience Retail REIT climbed 2.3 per cent after the trust reported a statutory net profit of $35.8 million for the half year to December 31, up from $14.7 million a year earlier.
Argo Investments rose 0.9 per cent after a profit of $130.8 million in the first half, and lifted its fully franked interim dividend to a record 18.5 a share.

Sumber : AFR