[MARKET ANALYSIS] Asia-Pac stocks are mostly subdued after the choppy US performance and mixed geopolitical updates

APAC Stocks: Mixed

• Asia-Pac stocks are mostly subdued following the choppy performance stateside, where the major indices ultimately finished mostly higher amid tech strength and mixed geopolitical updates.

ASX 200: -0.5%

• Index is subdued amid weakness in real estate, financials and defensives, while sentiment was also not helped by a slew of mostly weaker-than-expected data releases.

Nikkei 225: -1.7%

• Slipped after printing a new all-time high at the open with very few fresh catalysts from Japan, and as the recent mixed geopolitical headlines provide an opportunity to book profits.

Hang Seng & Shanghai Comp: Hang Seng +0.9% / Shanghai Comp -0.1%

• Chinese markets conform to the mixed picture with the mainland lacklustre, while the Hong Kong benchmark is led higher by strength in the big tech names with Meituan underpinned post-earnings, while the likes of Tencent, Alibaba, Lenovo, Kuaishou, SMIC and JD are among the top performers.

US Equity Futures: Lower

• Price action is lacklustre following recent mixed geopolitical messaging.

European Equity Futures +0.3%

• Indicate a positive cash market open with Euro Stoxx 50 futures up 0.3% after the cash market closed with losses of 0.3% on Monday.