ASX closed higher; PropTech Group surged 13% on Q1 results; Crown Resorts jumped 8% on investigation findings

The ASX200 closed 2.4 points higher at 7443.40 on Tuesday.

PropTech rose 13% on Q1 results including 99% growth in cash receipts.

Crown Resorts rose 8% following the royal commission findings.

The Australian market’s rally lost ground in afternoon trade as the key index managed to close just 2.4 points higher than Monday’s session, at 7443.40. Strong gains for tech stocks drove the market higher today.

The tech rally was led by Megaport surging 3.93%, Codan adding 3.69%, Afterpay jumping 3.30% and Technology One rallying 2.28%.

Bitcoin is trading 0.90% higher over the last 24-hours at US$62,528.21 at 4:15pm AEDT.

Australian-based real estate agency software solutions provider PropTech Group surged more than 13% today after releasing impressive first quarter results. For the period, PropTech reported 99% YoY growth in cash receipts to $5m, continued positive net cash flow from operations of $612,000, up 48% YoY, and successfully completed the acquisition of Eagle Software.

Making headlines, Crown Resorts had some relief today with shares surging more than 8% after the Royal Commission into the resort and casino giant’s operations found that Crown can keep its casino licence but is unfit to run its Melbourne casino. The 8-month royal commission uncovered ‘disgraceful’ conduct and recommended the company keep its casino licence under the close eye of a ‘special manager’ over the next two-years as Crown reforms, according to the commissioner

And Saudi Arabia is converting an oil rig into the world’s first offshore extreme amusement and leisure park called ‘The Rig’ featuring three hotels, 11 restaurants including an undersea dining experience, child-friendly attractions, water sports and rollercoasters.