Sydney, January 27, 2026, 22:01 AEDT — After-hours update
- The S&P/ASX 200 closed 0.92% higher at 8,941.6, marking its best finish since late October
- BHP climbed 2.7% to A$49.75, overtaking Commonwealth Bank in market cap
- Markets turn their attention to Australia’s CPI release on Jan. 28, with the RBA set to announce its decision on Feb. 3
Australian shares climbed nearly 1% on Tuesday, led by miners and gold-related stocks. BHP Group retook the top spot by market cap from Commonwealth Bank. The S&P/ASX 200 rose 81.5 points, or 0.92%, closing at 8,941.6, while the broader All Ordinaries gained 0.86% to finish at 9,268.5.
The metals rally remains crucial, carrying much of the weight for the local benchmark. On Monday, gold climbed past $5,100 an ounce as investors sought refuge. “Gold prices continue to be supported by elevated geopolitical and economic uncertainty,” said Ryan McIntyre, president at Sprott Inc. Reuters
The next local test is just around the corner. Markets now price in nearly a 61% chance of a 0.25 percentage point RBA hike next week, according to interest-rate derivatives — contracts reflecting traders’ bets on the cash rate — following December’s drop in unemployment to 4.1%, ABC reported, citing LSEG data. The Australian dollar hovered near 69.14 U.S. cents late in the session, while spot gold traded around $5,082 an ounce. Telix Pharmaceuticals and Capstone Copper topped the gainers, with Alcoa, Life360, and DroneShield among the laggards.
Australia’s consumer price index for the December quarter, the main measure of inflation, will be released at 11:30 a.m. AEDT on January 28. The Reserve Bank of Australia’s upcoming policy meeting is set for February 2–3, with the interest rate announcement expected at 2:30 p.m. AEDT on February 3.
Outside the major miners, Cyclopharm surged after announcing that a new draft U.S. and international lung-imaging guideline specifically names its Technegas ventilation agent as “generally preferred when available.” CEO James McBrayer highlighted that consensus guidelines hold “a unique level of authority within clinical practice,” suggesting this could boost demand in the U.S. investor.cyclopharm.com
DroneShield slipped following its quarterly update, which showed a sales pipeline of A$2.09 billion and highlighted over 300 active projects. The defence tech company attributed the drop from October’s pipeline mainly to early-stage deals that either fell through or were scaled back, along with a stronger Australian dollar.
Moves spanned sectors, but resources held the edge. Tech and real estate lagged. Miners, healthcare, and some communications stocks pushed gains higher.
The rally isn’t guaranteed. A hotter-than-expected CPI report would probably boost rate-hike probabilities and put pressure on rate-sensitive sectors. At the same time, a pullback in precious metals could swiftly deflate the trade supporting the index.
The next session hinges on the CPI release at 11:30 a.m. AEDT Wednesday. After that, all eyes turn to the RBA decision on Feb. 3, a key date investors have marked on their calendars.
