ASX Tech Sector Surged Following USA Exuberance
Paper Mandate Market & Portfolio Commentary | 27 May 2026
Fund Status:
Bal Start: $1,105,624
Bought None
Sold: MP1
Bal End: $1,124,832
Cash: $147,191
Market Commentary
Wall Street pushed through the geopolitical tensions, sending the S&P 500 (+0.61%) and Nasdaq (+1.19%) to record highs. Semiconductors rallied while bond yields declined and oil dropped lower. Micron jumped +19.2% which now joins the trillion-dollar market cap club. The ASX 200 futures are somewhat flat with some economic releases expected today.
The ASX 200 made a solid recovery, closing +0.50% higher. The rally was led by the Tech sector (+1.70%) following the lead from the U.S. Consumer Discretionary (+1.37%) and Real Estate (+1.34%) also gained a bid on cooling global inflation pressures. Headline CPI up 4.2%, down from 4.6% in March and below market expectations of 4.4%. Trimmed mean inflation edged up to 3.4% from 3.3% but in-line with consensus, with automotive fuel excluded in both months. Financials slid -0.14% with the most notable detractor being ASX Ltd (-8.49%), reeling from multi-year cost expansion guidance.
Portfolio Commentary
The portfolio is performing strongly due to the large overweight to Technology. The portfolio should be on track to post a 4-5% performance month. MP1 jumped +8.56% with the rest of the tech sector. We pared back the position by 1% as it climbed above a 12% weight of the portfolio . Similarly SKS climbed +6.42% as more capital flowed into data centres. CBO also rose +2.93%. On the down side, GDG fell -2.41% followed by SHA (-2.20%). 360 was flat despite having their target price raised $33 by Bell Potter (implied 74% gain).
Investment Activity
Disclaimer: This is a paper portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.