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Kospi Plunges 5%, Oil Near $106 as TSX Reopens | Daily Markets Update Oct 13

  Canadian Money Brief • Daily Markets Update • Tuesday, October 13, 2026 Good morning. Canadians return from the long weekend to a lot of catching up. Asia's chip stocks were hammered overnight, oil is hovering near US$106 a barrel, and the loonie is sitting near its weakest level in 18 months. The TSX reopens today after Thanksgiving, and Wall Street's big banks kick off earnings season ahead of tomorrow's US inflation report. The Big Three Today 1. Kospi crashes 5.46% to 6,035 on a global chip and AI selloff 2. Brent settles at US$106.65, its highest close since Sept. 15, on attacks on Saudi Arabia 3. TSX reopens after Friday's 519-point jump on a shock jobs report; USD/CAD near 1.43 Canada: TSX Reopens After a Jobs Shock The Toronto Stock Exchange was closed Monday for Thanksgiving, so Friday's session is still the latest close, and it was a big one. The S&P/TSX Composite jumped 519.24 points (+1.48%) to 35,664.62 after Statistics Canada reported that t...

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Myanmar Earthquake: A Nation in Crisis

The devastating 7.7-magnitude earthquake that struck Myanmar on Friday has left the nation grappling with an overwhelming humanitarian crisis. As of Sunday, the death toll has risen to approximately 1,700, with over 3,400 injured and 300 still missing. Hospitals are struggling to cope with the influx of casualties, and critical infrastructure, including bridges, highways, and airports, has been severely damaged, hindering rescue and relief efforts.

The earthquake, one of the strongest in Myanmar's history, has compounded the challenges faced by a country already in turmoil due to civil war and economic instability. International aid and rescue teams from neighboring countries like India, China, and Thailand, as well as Malaysia, Singapore, and Russia, have begun arriving to assist in relief efforts. However, the scale of destruction and the urgency of stabilizing affected communities before the monsoon season pose significant challenges.

The International Federation of Red Cross and Red Crescent Societies has emphasized the growing humanitarian needs and the importance of restoring transportation routes to facilitate effective rescue operations. With predictions suggesting the death toll could exceed 10,000, Myanmar faces a long and arduous road to recovery.

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