- ASX200 gained 1.11% to close at 6840.5 on Friday.
- Robinhood lifts restrictions on all stocks including GameStop.
- Neuralink is almost ready for human testing to correct paralysis.
The Australian market closed at an 11-month high, gaining 1.11% at 6840.5 to end Friday?s session and 3.53% for the week.
News Corp led today?s gains, surging more than 13%.
The tech sector had its best week since October, driven by Afterpay, up 12% this week, while the REA Group gained 1.6% to a record AUD$157/share.
Bitcoin is trading around US$37,200 at 4:30pm AEDT, boosting the cryptocurrency?s gains to almost 15% for the week. The surge is reportedly due to Elon Musk adding Bitcoin to his Twitter bio. Musk also tweeted "Dogecoin is the people?s crypto", which sent the "joke" cryptocurrency soaring 75% overnight.
Making headlines, Australia will lift its weekly cap on international arrivals in an effort to get stranded citizens home. From Feb. 15, South Australia?s cap will increase to 530/week, while Victoria?s will increase to 1310/week as set by the National Cabinet today.
In tech news, troubled online brokerage app Robinhood has lifted trading restrictions on all stocks including GameStop following last week?s short-sell frenzy. The lift comes as reports suggest at least 33 class action suits across 10 states have been filed against Robinhood for blocking stock buys.
And Elon Musk?s Neuralink is on the edge of human trials later this year. The brain chip currently being tested on monkeys will work to correct paralysis in people who?ve suffered a spinal injury.