Swingfolio Daily
ASX briefings — Wednesday 13 May 2026
Morning setup and afternoon close recap for Wednesday 13 May 2026. Observations only — no trade advice.
Wednesday 13 May 2026
ASX morning brief, 13 May 2026 — hot US CPI sinks chips; the ASX prices Chalmers' Budget
Wall Street faded Monday's record after a hot US April CPI of 3.8% — the fastest in three years — pushed crude above US$100 and triggered a semiconductor sell-off led by QCOM.US (-11.5%, its worst session since 2020). SPI futures point to a 7-point ASX dip at the open, where the first order of business is Tuesday night's Federal Budget: negative-gearing limits, a trimmed CGT discount, discretionary-trust reforms and a $14.8bn fuel-security package. Iron ore above US$110/t and US$102 crude give miners and energy more support; banks and listed property face the policy drag.
ASX 200 -0.46% to 8,630 — CBA.AU -10% drags banks, ALL.AU +13% on HY26 leads materials offset
The S&P/ASX 200 closed at 8,630.4 on Wednesday 13 May 2026, down 40.3 points or 0.46%. CBA.AU fell 10.43% (worst session since COVID) after a Q3 Pillar 3 update showed cash NPAT A$2.7bn, -1% vs H1 quarterly average; WBC.AU, ANZ.AU and NAB.AU dragged in sympathy. ALL.AU surged 13.28% on HY26 (19% EPS growth, A$1bn buyback extension). Materials offset the bank rout: BHP.AU +2.91% to $61.52 fresh record, FMG.AU +2.78%, S32.AU +3.22%, RIO.AU +1.93%. PDN.AU -12.05% on its own FY26 guidance miss.