ASX 200 report:
3 September 2026

The Australia 200 trades 31 points (+0.37%) higher at 9011 at 3.35pm AEST.

ASX 200 finds support as Middle East tensions ease

ASX 200 is poised to snap its three-day losing streak, supported by gains on Wall Street overnight and as some of the heat came out of the recent rally in energy prices and bond yields.

While it is way too soon to say the latest flare-up in the Strait of Hormuz has run its course, ASX 200 has still taken some comfort from an absence of new US strikes against Iran for the first time in three sessions. Overnight, President Trump also said the latest flare-up is not expected to last 'too long'.

ASX 200 stocks

Energy sector

The preliminary signs of cooling Strait of Hormuz tensions prompted a wave of profit-taking across energy names.

• Beach Energy dropped 3.07% to $0.87
• Woodside Energy Group fell 3.02% to $32.08
• Karoon Energy slipped 2.65% to $1.74.

Financials sector

With little in the way of fresh tier-one data due between now and the August labour force report on 24 September and then the Reserve Bank of Australia (RBA) Board meeting on 29 September, the banks gained today on short covering after financials fell 10.5% in August.

• National Australia Bank gained 1.89% to $39.30
• Westpac Banking Corporation added 1.67% to $34.96
• ANZ Group Holdings lifted 1.45% to $38.06
• Commonwealth Bank of Australia is poised for its first close back above $160.00 in two weeks after climbing 0.87% to $160.69.

Materials sector

That glimpse of possible de-escalation has seen iron ore  futures on the Singapore Exchange lift 1.50% to $98.75, boosting the giant iron ore miners:

• Mineral Resources added 2.29% to $63.57
• Fortescue lifted 2.00% to $16.93
• Rio Tinto climbed 0.96% to $176.56
• BHP Group fell $0.97, or 1.52%, to $63.67 after going ex-dividend US$0.99 per share, or about A$1.38.

The same glimpse helped gold gain 1% to $4432, extending its rebound from yesterday's low of $4282.

• Pantoro surged 4.31% to $2.79
• Resolute Mining jumped 3.97% to $1.44
• Newmont Corporation CDI rose 2.94% to $175.33
• Catalyst Metals climbed 2.93% to $6.86.

Travel management sector

• In another notable move, Corporate Travel Management plunged 83.63% to $2.63 on its return after being suspended in August 2025 above $16. The stock has been plagued by drama in its UK business after a KPMG review found revenue booked incorrectly on large contracts, including about £45 million that should never have been recognised.

The clean-up is underway and FY26 underlying earnings improved, but the first day of trading shows it is going to be a long road back.

ASX 200 technical analysis

ASX 200 spent the better part of four months between the start of April and the end of July within an 8500 - 9000 range before releasing that pent-up energy at the start of August to hit a fresh record high of 9296.7. From that high, we were expecting a pullback towards 9000.

Looking ahead, provided ASX 200 holds broadly above the 9000 - 8900 support region (former top-of-range resistance, now support) and the 200-day moving average at 8800, we look for a retest and break of the 9296.7 record high.

Aware that a sustained break below 8800ish would indicate ASX 200's break higher in August has failed and is likely to see a return to its former 8500 - 9000 range for a period of further range trading.

ASX 200 daily candlestick chart

• _{Source: TradingView. The figures stated are as of 3 September 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.}