ASX set to break its losing streak despite the downturn on Wall Street.

Australian stocks pulled back at lunchtime but remained in positive territory, ending a three-day sell-off driven by higher-than-expected inflation data for April.

The S&P/ASX 200 was up 33.9 points, or 0.44 percent, at 7662.1 around 11:45 AM. Nine out of eleven sectors were trading in the green. Real estate investment trusts, which recorded the strongest gains at the bell’s open, retreated by lunchtime, trading 0.33 percent lower, with Goodman Group falling 1.54 percent.

Local tech stocks were down 0.4 percent, following the lead from the United States, where the index tumbled after influential technology giants dropped sharply, despite the majority of Wall Street stocks being higher.

WiseTech Global declined 0.36 percent and Xero fell 1.55 percent, while TechnologyOne rose 1.38 percent.

Telix Pharmaceuticals soared 11.66 percent after broker Wilsons issued a positive note on the business following its latest trial results for a cancer treatment. Other notable advancers were Alumina (up 4.55 percent), Northern Star Resources (up 3.01 percent), and Auckland International Airport (up 2.31 percent).

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