Afternoon update: ASX up 0.54%, Strong performances in IT, Asian markets gain

The S&P/ASX 200 is trading 0.54 per cent higher at 7,187.00.

Futures

The SPI futures are up 43 points.

Best and worst performers

The best-performing sector is Information Technology, up 4.6 per cent. The worst-performing sector is Consumer Staples, down 1.16 per cent.

The best-performing large cap is WiseTech Global (ASX:WTC), trading 9.04 per cent higher at $75.89. It is followed by shares in Northern Star Resources (ASX:NST) and Xero (ASX:XRO).

The worst-performing large cap is Ramsay Health Care (ASX:RHC), trading 12.56 per cent lower at $48.37. It is followed by shares in Whitehaven Coal (ASX:WHC) and JB Hi-Fi (ASX:JBH).

Asian markets

Japan's Nikkei has gained 0.51 per cent.
Hong Kong's Hang Seng has gained 1.91 per cent.
China's Shanghai Composite has gained 1.59 per cent.

Commodities and the dollar

Gold is trading at US$1,948.90 an ounce.
Light crude is trading $0.28 lower at US$78.61 a barrel.
One Australian dollar is buying 64.79 US cents.
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Source: Finance News Network