End of Day Report – Tuesday 28 January: ASX 200 drops 10 points | Energy and data centre stocks hit hard

ASX 200 fell 10 points to 8399 as DeepSeek weighed on energy and data centres. Banks kicked higher again with CBA up % and NAB up % with the Big Bank Basket up to $263.02 (0.7%). Financials were generally weaker, MQG down 1.5% on its data centre exposure and ASX falling 5.1% with IFT off 4.4%. REITS mixed with data centre fave GMG down 8.2% and SGP up 2.0%. Industrials mixed too, Retail better, WES up 1.1% and ALL rallying 4.2% with tech under a little pressure, XRO up 1.7% and WTC down 0.5% with the All-tech Index down 0.7%. Utilities eased on energy forecasts falling, TLS rallied 0.8%. Resources too were mixed, gold miners eased back, NEM down 0.7% and NST falling 2.2% with EVN down 0.2%. BHP and RIO were up around 0.4% with lithium sliding. Uranium stocks got walloped on DeepSeek news, DYL down 15.5% and PDN off 9.4%. Energy stocks generally were lower. In corporate news, GOR down on its quarterly, TLX pushed up again on completing its latest US acquisition. NXL tumbled 20.2% on profit guidance. Nothing on the economic front locally. In Asia, Lunar New Year beckons, Japan down 1.2%, HK up 0.1% and China down 0.4%. 10-year yields back to 4.42%.

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