[MARKET ANALYSIS] Asia-Pac stocks are mostly lower as the ceasefire euphoria wanes

APAC Stocks: Mostly lower

• Asia-Pac stocks are mostly lower in a mild pullback from yesterday's ceasefire-fuelled extremes and as the widespread euphoria gradually waned amid the wide gaps between each side's peace proposals. Furthermore, several strikes had continued in the 24 hours after the announcement and the inclusion of Lebanon is seen as a key point of contention, while shipping in the Strait of Hormuz remains largely blocked, although a senior Iranian official stated that Iran could open Hormuz on Thursday or Friday ahead of their planned talks.

ASX 200: Flat

• Trades little changed amid a lack of data or drivers and with resilience in energy, defensives and financials offsetting the firm losses in the tech sector.

Nikkei 225: -0.7%

• Pulled back following the prior day's stellar performance with the index returning to beneath the 56,000 level, with very few fresh catalysts and the absence of tier-1 data to sustain the previous momentum.

Hang Seng & Shanghai Comp: Hang Seng -0.7% / Shanghai Comp -0.4%

• Conformed to the uninspired mood amid weakness in Chinese tech and property stocks, while there were prior reports that the US FCC will vote on a measure that would ban Chinese labs from testing US electronics.

US Equity Futures: Lower

• Marginally weakened in sideways trade amid uncertainty from a fragile US-Iran ceasefire.

European Equity Futures -0.1%

• Indicate a marginally softer open with Euro Stoxx 50 futures down 0.1% after the cash market closed with gains of 5.0% on Wednesday.