Australian shares end flat as miners counter energy, consumer losses

Jan 5, 2026, 13:12 GMT+7
Key points:

• Trading volume lowest in more than a year
• Miners rise to record closing high
• Energy stocks slip as investors weigh Venezuela turmoil

By Kumar Tanishk
Reuters - Australian shares closed flat on Monday, with gains in iron ore miners countering losses in consumer discretionary and energy stocks in the market's thinnest trading session in more than a year.
The S&P/ASX 200 indexfinished 0.8 points higher at 8,728.60, with volumes barely 0.7 times the 30-day average of 652 million shares.
While the Australian market started the first full trading week of the year on a subdued note, equities across Asia soared, largely driven by artificial intelligence-related optimism, brushing aside concerns over the political upheaval in Venezuela.
MSCI 's broadest index of Asia-Pacific sharesleapt 1.7% to a record high. Japan's Nikkei 225jumped 2.8% to a near record high, while stocks in South Koreaand Taiwan TWSE :TAIEXsurged over 3% to fresh peaks.
Australian shares failed to match that momentum, continuing a trend from last year, when the local market gained about 7%, but still lagged major global peers such as Japan and Hong Kong.
"Markets are still in holiday mood," said Craig Sidney, senior investment adviser at Shaw and Partners. Volumes are expected to remain low this week, with activity only picking up towards the latter part of January, Sidney said.
Minersclimbed 1.8% to notch a record close, as iron ore prices rose on strong Chinese demand and supply constraints. BHPand Fortescueadvanced 1.6% each, while Rio Tintoclimbed to a record high.
Gold stocksleapt 1.5% in their best session in two weeks on surging bullion prices.
Energy stockssnapped a three-session winning run as investors weighed whether OPEC member Venezuela's political turmoil would disrupt shipments in a well-supplied market.
Woodsideand Santosslipped 1.2% and 1.1%, respectively, reversing earlier gains.
Interest rate-sensitive sectors such as financials, consumer discretionary , and real estatelost between 0.2% and 1.6%.
With expectations that rates aren't going down soon and the next move likely being up, pressure on such stocks is set to persist in the medium term, Sidney said.
New Zealand's benchmark S&P/NZX 50 indexinched 0.3% higher to 13,587.23.

Sumber : Reuters