23 December 2025

The Australia 200 trades 101 points (1.17%) higher at 8801 as of 2.05pm AEDT.

ASX 200 climbs on Santa Claus rally

The Australia 200 (ASX 200) is set for a fourth consecutive session of gains and its highest daily close in six weeks, as the ‘Santa Claus rally’, which finally sparked yesterday, has surged spectacularly higher again today.

Today’s rally has been underpinned by overnight gains on Wall Street and a set of Reserve Bank of Australia (RBA) December minutes that proved modestly less hawkish than feared.

RBA minutes and inflation outlook

Members acknowledged near-term upside risks to inflation from recent data, including the inaugural full monthly consumer price index (CPI) release, but stressed that the new series remains too volatile and short-lived to rely upon. The Board will therefore continue to prioritise the more established quarterly CPI for gauging underlying momentum, with December-quarter data due ahead of the 3 February 2026 meeting.

For reference, the RBA forecasts trimmed-mean inflation to rise 0.8% quarter-on-quarter (QoQ) in the fourth quarter (Q4). A print at or below this level would likely keep the cash rate steady at 3.60%, while a reading of 1.0% or higher could trigger a 25 basis point (bp) hike in February.

The minutes’ balanced tone provided a tailwind to interest-rate-sensitive sectors.

ASX 200 stocks

Energy sector

Energy stocks were strong as crude oil jumped 2.49% overnight to $57.95, extending its rebound from last week’s five-year low of $54.98. Its overnight gains were fuelled by escalating geopolitical tensions, including the United States (US) Coast Guard’s pursuit of a third sanctioned tanker off Venezuela’s coast and Ukraine’s continued strikes on Russian oil infrastructure, which damaged vessels and piers at a Black Sea terminal in Krasnodar.

• Amplitude Energy soared 4.68% to $2.91
• Woodside gained 1.96% to $23.44
• Beach Energy rose 1.95% to $1.17
• Santos added 1.0% to $6.12.

Financial sector

The ASX 200 financials sector climbed 1.42% to its highest level since mid-November.

• Commonwealth Bank of Australia led the pack, rising 2.0% to $161.45
• Westpac up 1.2% to $39.21
• Australia and New Zealand Banking Group lifted 1.1% to $36.68
• National Australia Bank climbed 1.15% to $42.61.

Gold stocks

Gold stocks were mixed despite the price of bullion hitting a fresh record high of $4497 today.

• Capricorn Metals lost 1.4% to $14.57
• Perseus Mining slipped 1.3% to $5.68
• Newmont Mining gained 1.88% to $159.16
• Resolute Mining lifted 1.37% to $1.30.

Real estate sector

The ASX 200 property sector surged 3.25% to a seven-week high.

• Goodman Group rocketed 8.45% to $31.69 after announcing a $14 billion European data centre partnership with Canada Pension Plan Investment Group.
• REA Group added 1.49% to $186.98
• Vicinity Centres rose 1.18% to $2.57.

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, resulting in a 7.7% pullback, its deepest correction since April.

After testing and bouncing from the critical 8550 - 8560 support area last week, the rally this week has taken on distinctly more impulsive qualities.

With volumes wafer-thin in holiday trading, allow the ‘Santa Claus rally’ to continue higher towards our 8850 end-of-year target as outlined here in early December, now less than 45 points away.

ASX 200 daily chart

• _{Source: TradingView. The figures stated are as of 23 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.}