Market Wrap / weekly win

Strong gains in the technology sector saw the Australian sharemarket bounce back to a ten week high. The S&P/ASX200 rounded out the week up 0.48% at 8,903.90 points, and was up 2.1% over the week.

Off the back of Taiwan Semiconductor earnings drawing focus back to artificial intelligence, the sector climbed 1.3% over the day's trade. With data and connection a primary focus, NextDC gained 3.5% along with Megaport up 3.9%.

Among other names, Life360 regained some losses from earlier in the week, advancing 1.7%. The location safety app remains down 11.2% over the week. 

Elsewhere DroneShield has been chosen by the Australian Government to be part of a defence supplier panel, sending its shares up 7.8%.

Elsewhere, James Hardie has announced it is closing two of its US plants in a cost cutting effort with CEO Aaron Erter stating it will improve manufacturing productivity. Investor sentiment remained positive as the share price rose 2%. 

Over on the smaller end of town, Orthocell has increased its direct investment in Marine Biomedical by nearly 10%, securing rights to its bone regeneration technology. The regenerative medical company slipped 1.5%. 

Turning to next week, markets prepare for unemployment data and an array of trading updates from top ASX companies. While overseas, US President Trump is set to speak at the World Economic Forum while the Bank of Japan holds its policy decision.