Asian Shares Trade Mixed as AI Rally Cools, Oil and War Risks Pressure Sentiment

Asian shares were mixed early May 13, 2026, as fading enthusiasm for AI and technology stocks slowed Wall Street’s record-setting run and investors weighed elevated oil prices tied to the Iran war. Japan’s Nikkei 225 rose less than 0.1% to 62,774.94, while South Korea’s Kospi gained 0.9% to 7,708.05 after recent losses. Australia’s S&P/ASX 200 fell 0.3% to 8,645.80, Hong Kong’s Hang Seng declined 0.4% to 26,246.29, and the Shanghai Composite was nearly flat at 4,213.86. U.S. crude fell 58 cents to $101.60 a barrel, and Brent dropped 66 cents to $107.11, still sharply above roughly $70 before the war, which has effectively shut the Strait of Hormuz to oil tankers. On May 12, the S&P 500 slipped 0.2% to 7,400.96, the Nasdaq fell 0.7% to 26,088.20, and the Dow rose 0.1% to 49,760.56. Intel fell 6.8%, and Micron dropped 3.6%.