18 December 2025

The Australia 200 trades 13 points (-0.15%) lower at 8571 as of 2.15pm AEDT.

ASX 200 slips as Oracle leads tech sell-off 

The Australia 200 (ASX 200) is poised for a fourth straight session of losses following a weak session on Wall Street, as renewed concerns over artificial intelligence (AI) valuations weighed on sentiment.

Oracle was the main driver of the anxiety, sliding 5.4% to US$178.46 after reports that its largest data centre partner, Blue Owl Capital, declined to back the company’s proposed US$10 billion data centre project. This latest setback further deepened investor scepticism about Oracle’s aggressive AI infrastructure expansion.

ASX 200 stocks

Consumer discretionary sector

• Auto parts retailer Bapcor gained 13.24% to $2.01 as investors cheered the departure of CEO Angus McKay, who resigned after just 16 months with the business. No reason was provided for his sudden departure. Despite today’s bounce, Bapcor shares are down 57.5% year-to-date.

Energy sector

Despite the price of crude oil surging 2.85% overnight to $56.74 on news of President Trump’s ‘total and complete’ blockade of sanctioned Venezuelan oil tankers, the ASX 200 energy sector declined.

• Woodside Energy, down 2.50% to $22.84, after the company announced chief executive officer (CEO) Meg O’Neill’s resignation to take the top role at BP
• Ampol fell 0.84% to $31.85
• Beach Energy gained 1.12% to $1.13
• Santos added 0.9% to $6.09.

Health care sector

The ASX 200 health care sector continued its worrying slide. Since the end of November, it has fallen 8% to hit its lowest level today in more than six years (since August 2019).

• Pro Medicus, which lost 1.83% to $215.53
• Ansell, which slipped 1.22% to $34.81
• Telix Pharma, which dropped 1.24% to $11.58.

Materials sector

The big miners advanced as iron ore prices rose 0.48% in the Asian session to $104.15.

• Rio Tinto climbed 0.65% to $142.32
• BHP gained 0.53% to $44.64
• Fortescue rose 0.27% to $22.51

However, the news was not so great in the uranium space.

• Boss Energy plummeted 27.80% to $1.13 following the release of its Honeymoon project review. The update significantly deviates from 2021 forecasts, signalling lower future production and higher costs from financial year (FY) 2027 due to less optimal mineralisation, reduced grade continuity, poor leachability, and smaller wellfields. As a result, the company has withdrawn its existing feasibility study and advised it should no longer be used as a guide to future performance.
• Deep Yellow dropped 8.22% to $1.65
• Bannerman Energy slid 8.20% to $2.92.

Technology sector

• NEXTDC down 4.3% to $12.16
• DigiCo Infrastructure REIT easing 1.2% to $2.50
• Infratil falling 1.15% to $9.38
• Spark New Zealand dipping 0.51% to $1.96
• Megaport dropped 2.7% to $12.03
• Life360 retreated 1.45% to $31.90 – erasing gains and returning to June 2025 levels after peaking at $55.87 in October.

ASX 200 technical analysis

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

The ASX 200 then bounced 318 points (3.80%) into last Friday’s 8701.8 high. The bounce has lacked impulsive qualities and instead displays corrective qualities, which at this point suggests the rally is countertrend (like the corrective bounce in Bitcoin, which bottomed on the exact same day as the ASX 200 – 21 November).

With this in mind, should the ASX 200 see a sustained break below recent lows at 8560 – 8550 as well as the 200-day moving average at 8535, it would indicate the recovery has ended and open the way for a retest of the 8383 low. Until then, allow the rebound the benefit of the doubt.

ASX 200 daily chart

• _{Source: TradingView. The figures stated are as of  18 December 2025. 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.}