ASX 200 Set to Open Lower Despite Strong U.S. Tech Rally

Australia’s S&P/ASX 200 is expected to open slightly lower, with futures pointing down around 0.6%, despite a broadly positive lead from U.S. equities overnight.

The weaker start suggests the benchmark index may give back part of its 1.2% gain accumulated so far this week as investors lock in profits following recent gains.

Among key corporate updates, lithium producer Pilbara Minerals (PLS) approved A$175 million in pre-final investment decision capital expenditure for its P2000 project, signalling continued investment in future production capacity amid long-term demand expectations for battery materials.

Meanwhile, IDP Education announced a A$50 million share buyback after reporting it expects to exceed its FY26 cost-reduction targets. The student placement and English testing provider also highlighted improved operational efficiency, supporting shareholder returns despite challenging market conditions.

In the United States, equity markets closed higher across the board, with technology stocks leading gains. The Dow Jones Industrial Average rose 0.1%, the S&P 500 advanced 1.1%, and the Nasdaq Composite surged 1.9%, reflecting renewed strength in growth and AI-linked sectors.

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