Market Summary - August 13, 2026

Overview

The morning wrap for August 13, 2026, highlights a continuation of the tech rally from Wall Street into Asian markets, alongside geopolitical tensions in the Middle East, particularly involving Iran and the US.

Asian Market Performance

Futures on major US indices are showing gains, with the Nasdaq 100 leading the way at +0.3%. This follows a strong performance in semiconductor stocks that has driven the Nasdaq to recent highs. The MSCI Asia-Pacific index has increased by 0.6%, with South Korea's KOSPI up by 3.7% and Japan's Nikkei 225 gaining 1.1%. However, Australia's S&P/ASX 200 index has seen a decline of 0.4%.

Geopolitical Developments

Iran has taken a firmer stance in negotiations, countering US claims of control over the Strait of Hormuz. Iran insists that maritime traffic will not resume until its conditions are met, which include demands for reparations. This situation adds to the uncertainty in the region.

In Australia, the Reserve Bank's Christopher Kent noted that current interest rates are at the upper end of the neutral range, indicating a cautious approach to monetary policy. Meanwhile, Japan's Prime Minister Sanae Takaichi has expressed support for faster rate hikes by the Bank of Japan, which has led to a slight strengthening of the yen.

Currencies and Commodities

The US Dollar Index closed with a gain of approximately 0.2%, despite stable CPI inflation data. The New Zealand Dollar has weakened, reflecting a drop in 2-year inflation expectations. In the commodities market, gold has seen a slight pullback to around $4,400 per ounce, while Brent crude futures have risen to $89 per barrel amid ongoing geopolitical tensions.