On Thursday (13 August, 9:40 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific advanced, with technology stocks leading gains after U.S. inflation data came in line with expectations, reducing immediate concerns about further Federal Reserve rate hikes. South Korea’s Kospi Index surged 4%, entering bull market territory as renewed interest in AI drove a rebound from recent losses.
U.S. consumer prices for July showed a 0.2% monthly increase, matching market forecasts. The reading, along with previous indications of a softening U.S. labor market, provided some reassurance to investors about the Fed’s policy stance. However, ongoing price pressures and fluctuating energy markets continue to create uncertainty.
In the Middle East, an Iranian official indicated to Reuters that there were no talks aimed at extending the U.S.-Iran ceasefire, noting that in Tehran’s view, the agreement had never formally begun.
Vessel tracking data revealed that traffic through the Strait of Hormuz dropped to eight ships on Tuesday, the lowest count in a week. This is a significant decline from pre-war levels, when 125 to 140 ships passed daily through the strategic passage.
Japan’s NIKKEI rose by 1.61% to 68,611.73. South Korea’s KOSPI jumped by 4.22% to 6,856.49, while Australia’s ASX 200 dropped by 0.50% to 9,163.30.
As for stocks in China, Shanghai’s SSEC grew by 0.44% to 3,963.84. Shenzhen’s SZI added 1.06% to 14,566.71, while Hong Kong’s HSI declined by 0.21% to 25,385.66.
The U.S. stock markets edged up on Wednesday as NASDAQ gained 0.54% to 26,588.48. S&P 500 increased by 0.26% to 7,748.50, while the Dow Jones Industrial Average (DJIA) slid by 0.04% to 53,770.27. VIX plummeted by 4.78% to 14.55.
As for commodities, oil prices settled higher on Wednesday following ongoing maritime security concerns in the Middle East and a stall in negotiations aimed at resolving the Iran conflict. The upward move, however, was held in check after energy analysts revised their outlook for global oil consumption in 2026 downward. Brent crude finished at $88.98 a barrel, up 7 cents, or 0.07%, while U.S. West Texas Intermediate also increased by 7 cents, or 0.08%, closing at $83.27 per barrel.
This morning, Brent futures dipped $1.01, or 1.14%, to $87.97 per barrel, and the WTI futures lost $1.05, or 1.26%, to $82.22 per barrel.
Meanwhile, gold futures fell by 0.13% to $4,461.60 per Troy ounce.
