Australian shares were flat with positive bias on Monday as markets showed little reaction to Venezuela's political turmoil.

The S&P/ASX 200 was little changed to close at 8,728.6.

"Geopolitical noise fades quickly. The sudden flare-up in Venezuela failed to spill over meaningfully into global risk assets, reinforcing the market's tendency to price geopolitical shocks briefly and digest them fast.", said Dilin Wu, a strategist at Pepperstone Group, as quoted by Bloomberg.

On the domestic front, Australian home prices hit a record AU$880,000 in December 2025, up 0.1% for the month and 8.8% over the year, as gains in Brisbane, Adelaide, and Perth offset falls in Sydney and Melbourne, according to a statement by the Commonwealth Bank of Australia.

Also, the Australian dollar broke a four-year losing streak against the US dollar in 2025 and may continue to rise this year, according to a statement from the Australian Associated Press and the Commonwealth Bank of Australia.

In company news, WiseTech Global's (ASX:WTC) BluJay has been ordered by the Australian Competition and Consumer Commission (ACCC) to divest its unit, Expedient, to an ACCC-approved purchaser. Shares of the company fell 3% at market close.

Coronado Global Resources (ASX:CRN) said a fatal incident occurred on Jan. 2 at its Mammoth underground mine near Blackwater, Queensland. Shares of the company fell almost 10% at market close.

Lastly, Australian Agricultural Co. (ASX:AAC) confirmed that heavy rain and flooding in northwestern Queensland affected three of its 27 properties, namely, Carrum, Dalgonally, and Canobie. Shares of the company fell 3% at market close.