Sydney Stocks: ASX 200 and NZX 50 Daily — 2026-09-23
The ASX 200 eked out a tentative gain on Wednesday, closing at 8,765.3 points (+0.086%) as miners did the heavy lifting while banks, utilities, telcos and energy stocks faded. Rate-hike chatter dominated after CBA and ANZ brought forward their RBA rate-hike forecasts to next week. Across the Tasman, the NZX 50 slipped 0.1% as gentailers and soft consumer names dragged.
Sydney Stocks: ASX 200 and NZX 50 Daily — 2026-09-23
Top developments
ASX 200 edges higher on Wednesday as miners offset broad weakness
The S&P/ASX 200 closed at 8,765.3 points, a tentative 0.086% rise, with resources up over 2% in early trade while banks and energy stocks slipped. Market Index noted the index faded a positive open as sharp declines among utilities, telcos, banks and energy offset gains from miners. The close marked a modest rebound after last week's slide to the index's lowest levels since June.
CBA and ANZ bring forward RBA rate-hike forecasts
CBA and ANZ both switched their calls to an RBA hike at next week's meeting, while the ASX closed flat on Monday for lack of direction. This hawkish bank repositioning is a headwind for the big four banks and rate-sensitive sectors — NAB separately suffered an IT outage on Wednesday. Investors will watch Thursday's August jobs data for clues on where the RBA takes rates after September.
Chinese NDRC pushes mine restarts; iron ore near US$96.55/t
China's NDRC has called for accelerated resumption of mines suspended after the Shanxi accident, including lower-risk operations, while Singapore iron ore last traded at US$96.55 a ton. That policy tailwind helped steady materials stocks and explains why BHP and iron ore miners bounced after weeks of pressure.
Myer posts $276m annual loss on weak consumer spending
Department store chain Myer reported a full-year loss of $276 million amid a "material downturn" in consumer sentiment, and scrapped its dividend. The result underscores the soft discretionary-spending backdrop weighing on Australian retailers.
NZX 50 slips — gentailers drag, KMD on soft outlook
New Zealand's S&P/NZX 50 fell 0.1%, with Investore Property, Napier Port, Genesis and Summerset rising while Gentrack, Kathmandu, Meridian and Mainfreight declined. NBR reported electricity generator-retailers like Meridian and Mercury dragged the benchmark lower, and KMD Brands dropped on a soft outlook. An earlier session saw the NZX 50 fall 0.39% as investors weighed dairy auction volumes and a deeper KMD Brands loss.
Local view
Australian market-watchers see the current trade as a tug-of-war between resources strength and rate-hike anxiety. The Motley Fool Australia flagged the Wednesday close as "tentative," reflecting a repair phase after five weeks of losses from the August record of 9,296. Meanwhile, the NZ Super Fund's warning of a potential stock-market pullback is echoing locally — Asia Asset Management notes it reflects broader institutional repositioning.
Context & numbers
- ASX 200 close, 23 September: 8,765.3 points (+0.086%)
- Index fell 590 points in five weeks from its August record of 9,296; now trading from around 8,706
- Singapore iron ore: US$96.55/t
- Oil fell below US$99/barrel on Wednesday after earlier trading above US$101
- RBA cash rate: unchanged at 4.35% (last decision August); next decision — with hike speculation from CBA and ANZ — due next week
- NZ Super Fund ($54b) returned 14.2% in the year to June and is now warning of a market pullback
- Bitcoin retreated from an eight-month high after topping US$86,500
On the radar
- Thursday's Australian August jobs data — the key input for RBA expectations
- RBA Monetary Policy Board meeting next week, with CBA and ANZ forecasting a rate hike
- NDRC mine-restart progress in Shanxi — a potential iron-ore supply signal for BHP and Rio Tinto
- US–China trade diplomacy: US Treasury Secretary Bessent described weekend talks with Chinese Vice Premier He Lifeng as successful, supporting hopes for improved relations
- IDP Education rejects takeover bids and Nufarm flags $380m earnings — corporate actions to track
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