[MARKET ANALYSIS] Asia-Pac indices broadly lower, DENSO slumps after cutting FY guidance while LG Electronics supports the KOSPI

Asia-Pac stocks trade mixed, as risk sentiment weakens amid reports that US President Trump is unlikely to agree to Iran’s proposal.
ASX 200 started the session on the backfoot, but has since held onto its earlier losses. Sectors are broadly in the red, with Utilities underperforming while Energy is supported by higher crude prices.
Nikkei 225 opened flat and has since continued to pull back from its ATH made in Monday’s trade. More recently, DENSO reported earning in which all metrics rose annually, but the Co. cut its FY net and op. profit guidance while stating its withdrawal of the proposal of Rohn acquisition.
KOSPI is the outperformer, with LG Electronics supporting the index after reports that the Co.’s CEO is to meet Nvidia CEO Huang’s daughter to discuss strategic cooperation.
Hang Seng and Shanghai Comp. follow the broad negative bias. CATL’s HK shares have came under pressure after the Co.’s announcement of a plan to raise over HKD 39bln in private share placement to step up expansion in its renewables business.
US equity futures initially got a lift at the start of futures trade but has come off best levels.
European equity futures are indicative of a slightly firmer open with the Euro Stoxx 50 future +0.3% after cash closed -0.3% on Monday.