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ASX Midday Sector Update: Information Technology Stocks Gain, Materials Struggle

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Information technology stocks advanced 1.2% in midday trading Tuesday as markets awaited an interest rate decision from the Australian central bank due later in the afternoon.

WiseTech Global (ASX:WTC) gained more than 6%, but Gentrack Group's (ASX:GTK, NZE:GTK) Australian-listed shares tumbled past 32% after the company cut its fiscal year 2026 revenue guidance.

Meanwhile, materials stock led decliners with a fall of 1.2%, as nearly all sectors were in the red after tensions around the Strait of Hormuz intensified following a suspected Iranian attack on a United Arab Emirates oil facility.

Regis Resources (ASX:RRL) agreed to acquire Vault Minerals (ASX:VAU) in a merger of equals to create a major gold producer with a pro forma market capitalization of about AU$10.7 billion. Regis shares fell nearly 5% and Vault gained over 4%.

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