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Tech Stocks Hit Again On ASX

Many technology-based stocks suffered again on the ASX yesterday, with financial, material and energy stocks also helping wipe some $30.3 billion in value from the stock market boards.

The S&P/ASX 200 index closed 101.4 points, or 1.7 per cent, lower at 5732.

Tech stocks that experienced the pummelling included datacentre operator NextDC, down 6c at $6.13; telecoms provider TPG, down 1c at $7.43; accounting software house Xero, down 14c at $39.91; rival MYOB down three cents at $3.29; tech products distie Dicker Data, down 0.1c at $288; online goods flogger Kogan, down 13c at $2.65; and Seven West Media, down 85c at $16.82.

However Technology One, Netcomm, Vocus and Data#3 all showed modest rises.

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