Australian shares end at two-month high as miners ride metals rally

Jan 15, 2026, 12:59 GMT+7
Key points:

• ASX200 on a four-day winning streak
• Miners hit third consecutive record close
• BHP closes at a two-year peak
• NZ50 clocks its worst day in one month

By Anjali Singh and Nikita Maria Jino
Reuters - Australian shares closed at an over two-month high on Thursday, driven by broad-based gains, with miners at the helm as investors pivoted to the heavyweight sector to capitalise on a rally in base and precious metal prices.
The S&P/ASX 200 closed 0.5% higher at 8,861.70 points, ending at its strongest level since November 3. The benchmark index clocked gains for a fourth consecutive session.
Minersscored a record-closing high for a third consecutive session, with a 1.1% advance. Iron ore prices, though subdued for the day, continue to be supported by robust demand for the steel-making commodity from China.
The sub-index has been on an uptrend since the second half of 2025, booking a 40% surge between July and December. It has advanced nearly 8% so far this month.
Valuation fatigue in banks and strong tailwinds for miners are prompting a rotational positioning into the latter, said Marc Jocum, senior product and investment strategist at Global X ETFs Australia.
Iron ore prices have been stabilising with an increase in demand for the steel-making ingredient as well as export diversification in top consumer China, making investors seek potential pockets of value in the commodity sector, Jocum added.
Shares of BHPclosed at their highest point in more than two years, while Rio Tintoadded 0.4% to end at its highest level in a week.
Financialsgained 0.5%, with the four "Big Banks" rising between 0.4% and 2.6%.
The banking sub-index, however, has lost more than 1.5% so far this month, remaining under pressure as a realignment in monetary policy and stretched valuations prompt investor outflows.
Across the Tasman Sea, New Zealand's S&P/NZX 50 indexclosed 0.7% lower at 13,659.79 points, its weakest session since December 17.

Sumber : Reuters