Asian Shares Trade Mixed as Nasdaq Drops 0.7% and Brent Stays Above $107

12 articles · Updated · The Independent · May 13

South Korea’s Kospi rose 0.9% early Wednesday, while Japan’s Nikkei was flat, Australia’s ASX 200 fell 0.3% and Hong Kong’s Hang Seng slipped 0.4%, leaving Asian trading mixed.
Wall Street set the tone after the S&P 500 slipped 0.2% from a record and the Nasdaq fell 0.7%, with AI-linked chip stocks retreating sharply—Intel dropped 6.8% and Micron lost 3.6%.
Oil remained a central pressure point even after easing slightly, with U.S. crude at $101.60 and Brent at $107.11, still far above prewar levels near $70 as the Iran conflict keeps the Strait of Hormuz effectively shut.
Treasury yields also stayed elevated—the 10-year rose to 4.45% from 4.42%—as traders increasingly expect the Federal Reserve to keep rates steady but high while inflation risks persist.

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