[MARKET ANALYSIS] Asia-Pac stocks are mostly subdued after big tech earnings beats failed to spur risk appetite

APAC Stocks: Mostly lower

• Asia-Pac stocks are mostly lower with sentiment in the region clouded following a lack of fireworks at the FOMC, where the Fed kept rates unchanged at 3.50%-3.75%, as expected, while top and bottom line earnings beats from the likes of Meta, Microsoft and Tesla also failed to spur the broader risk appetite.

ASX 200: -0.5%

• Retreated with the index dragged lower by underperformance in telecoms and miners, while a surge in exports and import prices adds to the inflationary risks and the case for an RBA rate hike next week.

Nikkei 225: -0.1%

• Failed to sustain early gains and dipped into negative territory amid currency-related headwinds and earnings results.

KOSPI +0.7%

• Swung between gains and losses amid fluctuations in tech heavyweights Samsung Electronics and SK Hynix despite both posting stellar earnings results.

Hang Seng & Shanghai Comp: Hang Seng +0.1% / Shanghai Comp -0.1%

• Chinese markets are mixed with price action relatively flat amid a lack of fresh pertinent macro catalysts for China.

US Equity Futures: Mixed

• Index futures struggle for direction following the mixed reaction to the earnings beats from the first of the Mag 7 results.

European Equity Futures +0.1%

• Indicate a positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with losses of 1.0% on Wednesday.