[MARKET ANALYSIS] Asia-Pac stocks are mostly subdued following the performance on Wall St, as participants reflected on US-Iran progress and undeperformance in communication stocks

APAC Stocks: Lower

• Asia-Pac stocks are subdued with price action somewhat choppy following the mixed performance stateside, where participants reflected on the progress in US-Iran talks, but communication stocks and the Nasdaq Comp underperformed.

ASX 200: Flat

• Trades little changed amid a lack of major fresh catalysts overnight and as the strength in financials and defensives offset the losses in the tech and commodity-related sectors.

Nikkei 225: -1.1%

• Swung between gains and losses with the index briefly climbing to a fresh record high before reversing course, and is on track to snap its 8-day win streak.

Hang Seng & Shanghai Comp: Hang Seng -1.3% / Shanghai Comp -0.4%

• Conform to the lacklustre mood in the region and the absence of any major fresh catalysts, with the Hong Kong benchmark pressured by losses in miners and digital platforms stocks.

US Equity Futures: Lower

• Gradually retreated overnight after the inconclusive performance on Wall St.

European Equity Futures -0.7%

• Indicate a lower cash market open with Euro Stoxx 50 futures down 0.7% after the cash market closed with gains of 0.3% on Monday.