Australia’s sharemarket has narrowly avoided the technology carnage across the US and Asia, as it eked out a small gain during Friday’s trading.

The benchmark ASX 200 added 15.50 points, or 0.18 per cent, to 8764.20, while the broader All Ordinaries finished 12.60 points, or 0.14 per cent, higher to 8964.20.

On a choppy day of trading, the Australian sharemarket was down by as much as 0.5 per cent before it bounced back in the afternoon’s session.

Australia’s dollar slipped against the greenback to buy 68.95 US cents.

Overall, seven of the 11 sectors finished higher — led by consumer staples and the major miners.

Supermarket giant Woolworths added 0.75 per cent to $40.24 and Coles leapt 1.45 per cent to $24.41, even though the ACCC announced the world’s first anti gouging laws.

BHP shares finished 0.80 per cent higher to $58.99, Rio Tinto rallied 2.15 per cent to $173.64 and Fortescue etched 0.69 per cent higher to $19.07.

Offsetting the gains was falls in technology in line with much of Asia.

Stocks across the Asian markets have come under pressure following a sell-off of Apple shares and reports in the New York Times that OpenAI is considering delaying its IPO.

Korea’s KOSPI had an intraday slump of 7.7 per cent, while Japan’s Nikkei 225 dropped 4.2 per cent.

The losses extended to the US markets with the technology based Nasdaq 100 futures down by as much as 1.7 per cent, ahead of what could be a volatile session in the US.

IG market analyst Tony Sycamore said technology stocks across the globe were being hit by fears of AI related costs.

“The shift reflects growing investor unease over the enormous AI-related capex being undertaken by the biggest names and increasing uncertainty about when those investments will translate into earnings growth that justifies current valuations,” he said.

“With the US Q2 earnings season now only three weeks away, the bar is set high.”

Mr Sycamore said as the market approaches the close for the first half of the year, it has been a disappointing start for investors, with the market up around 0.5 per cent, with just two trading days to go.

Adding to the woes were a jump in oil prices overnight after a ship was hit by a projectile in the Strait of Hormuz and several freighters were turned around as they looked to cross the critical waterway.

Brent Crude Oil rose by as much as four per cent, before it fell 1.80 per cent on Friday as tensions eased.

Mining giant BHP added 0.80 per cent to $58.99 after it announced incoming chief executive Brandon Craig rearranged leadership responsibilities before taking the top job.

Jessica Farrell was appointed president for North America and temporary president for South America as the company recruits for the job.

4DMedical shares slumped 8.97 per cent to $4.16 as it lists additional shares, offsetting the good news from the Therapeutic Goods Administration approval for its CT: VQ lung imaging software.

This will allow the company to commercially roll out the product across Australia.

Transurban shares also finished in the green up 1.45 per cent to $15.39 after its 95 Express Lanes which it holds a 50 per cent stake in, entered a development framework with Virginia Department of Transportation.

It will add approximately 120 additional new lane miles.

Mexican fast food chain Guzman Y Gomez shares dropped 2.03 per cent to $20.27 after AwareSuper – who were one of their early institutional backers – announced they were no longer a substantial shareholder.