15 January 2026

The Australia 200 trades 24 points (0.27%) higher at 8844 as of 2.30pm AEDT.

Materials sector fuels ASX 200 gains amid Wall Street declines

The Australia 200 (ASX 200) is on track for a fourth consecutive session of gains, having surged 61 points shortly after the open to an intraday and ten-week high of 8881. However, a lack of follow-through buying prompted a retreat below 8850 in the afternoon session.

Despite the pullback, the ASX 200 has comfortably shrugged off a second straight night of declines on Wall Street. This resilience is largely thanks to the resurgent ASX 200 materials sector, which delivered its third successive fresh record high this week. The sector is up an impressive 8.45% month-to-date, following a solid 6.62% gain in December, driven by irrepressible demand for industrial and precious metals.

ASX 200 stocks

Energy sector

Energy stocks have fallen after crude oil plunged more than 5% early this morning to a low of $59.19 from the nearly 12-week high of $62.36 it reached earlier in the session. The sharp reversal occurred after United States (US) President Trump stated he had been informed that the 'killing in Iran is stopping' and that there are 'no plans for executions.' These comments saw a portion of the geopolitical risk premium recently built into the oil price unwound as fears of disruptions to Iran's approximately 3.3 million barrels per day of exports eased.

• Beach Energy dropped 4.36% to $1.15, erasing yesterday’s 4.4% gain
• Santos fell 0.55% to $6.27
• Amplitude Energy eased 0.51% to $2.90.

Financial sector

It’s been a mixed day for the big banks, as investors cast a wary eye on their US counterparts currently under strain from President Trump’s proposed one-year 10% cap on credit card interest rates.

• Commonwealth Bank of Australia slipped 0.67% to $151.87, gravitating back towards the $150.38 low it struck late last year
• Westpac dipped 0.26% to $38.18
• Australia and New Zealand Banking Group lifted 0.96% to $37.74
• National Australia Bank climbed 0.26% to $42.02.

Health care sector

The ASX 200 health care sector, which last week hit its lowest level since June 2019, has found some support in recent sessions. While it's too early to confirm a medium-term low, it appears bargain hunters are beginning to dip their toes in the water.

• Resmed lifted 2.08% to $38.82
• Telix gained 1.4% to $11.25
• CSL added 0.85% to $175.01
• Cochlear climbed 0.54% to $268.30.

Materials sector

• Bluescope Steel, which surged 4.81% to $31.20
• South32 lifted 4.3% to $4.13
• BHP gained 3.03% to $49.58, its highest since January 2024
• Lynas Rare Earths rose 3.02% to $16.03.

Technology sector

Local tech stocks took their lead from the tech-heavy Nasdaq 100 on Wall Street, which continues to be impacted by caution surrounding high artificial intelligence (AI)-related spending.

• Life360 dropped 5.21% to $28.72
• Afterpay owner Block lost 3.1% to $97.58
• Xero declined by 3% to $104.36.

ASX 200 technical analysis

After reaching an all-time high of 9115 in mid-October last year, the ASX 200 hit a low of 8383 on 21 November, for a 7.7% pullback, its deepest correction since April.

The index has since rebounded 497 points (5.9%) into today’s high, a move that has been in line with our bullish expectations driven principally by seasonal strength from mid-December into mid-January.

Looking ahead, provided the index remains above important support at 8700 - 8675 coming from December highs – January’s lows and uptrend support, we expect the index to continue its ascent towards the next upside target at 8950 – 9000.

ASX 200 daily chart

• _{Source: TradingView. The figures stated are as of 15 January 2026. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.}