Tech Advances as Traders Chase Gains -- Tech Roundup

Shares of technology companies rose as traders continued to chase gains in the sector.

The SPDR Select Sector Technology exchange-traded fund, which tracks the tech industry group of the S&P 500, is up by more than 52% for the year to date, eclipsing the performance of the 10 other sectors on the broad index.

The iShares Semiconductor SOXX exchange-traded fund which tracks the PHLX Semiconductor index, or SOXX, rose by more than 3% on Monday alone.

The Securities and Exchange Commission is asking investment advisers how they use and oversee artificial intelligence, as agency head Gary Gensler continues to express skepticism about the technology.

Bytedance's TikTok will invest more than $1.5 billion in a deal with GoTo Group that will allow the Chinese video-sharing app to resume retail operations in Indonesia, one of its most successful e-commerce markets.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

12-11-23 1734ET