[MARKET ANALYSIS] Asia-Pac stocks are mostly lower following the teach weakness in US and geopolitical escalation between US and Iran

APAC Stocks: Mostly Negative

• Asia-Pac stocks mostly declined following the tech weakness on Wall St and amid the escalation in the Middle East after the US conducted strikes on Iran in response to the downing of an Apache helicopter, while Iran retaliated with strikes targeting US bases in the region.

ASX 200: +0.4%

• Bucks the trend with the index lifted by gains in the consumer sectors, financials and defensives.

Nikkei 225: -1.0%

• Retreated amid tech-related headwinds, while firmer-than-expected PPI data and the latest BoJ source report continued to point to a looming hike for next week's meeting.

Hang Seng & Shanghai Comp: Hang Seng -0.7% / Shanghai Comp -0.9%

• Chinese markets conformed to the downbeat mood in the region owing to the recent geopolitical escalation, while Chinese inflation data was mixed as CPI Y/Y printed softer-than-expected, but PPI Y/Y topped forecasts and printed its highest since July 2022.

US Equity Futures: Mildly lower

• Demand is subdued as focus remained centred on geopolitical updates.

European Equity Futures +0.2%

• Indicate a marginally positive cash market open with Euro Stoxx 50 futures up 0.2% after the cash market closed with losses of 0.2% on Tuesday.