[MARKET ANALYSIS] Asia-pac stocks are pressured amid a tech sell-off and ongoing US-Iran escalation

APAC Stocks: Negative

• Asia-Pac stocks are pressured as the tech selling rolled over from Wall St and with sentiment weighed on by US-Iran escalation, in which the US conducted a sixth consecutive night of strikes on and targeted infrastructure, including an airport, railway station and several bridges.

ASX 200: -0.6%

• Index is dragged lower by weakness in mining, materials, resources and tech, while telecoms, energy and defensives are at the other end of the spectrum, helping cushion the downside.

Nikkei 225: -4.4%

• Underperforms and takes the brunt of the semiconductor sell-off in the absence of its South Korean counterpart due to Constitution Day, while Kioixia is heavily pressured and has shedded 50% of its market cap from last month's peak.

Hang Seng & Shanghai Comp: Hang Seng -1.7% / Shanghai Comp -1.4%

• Chinese markets conform to the downbeat mood amid the tech-related woes, and with sentiment also not helped by US President Trump's primetime address, in which he accused China of meddling in the 2024 US Election and called for Congress to pass the SAVE America Act.

US Equity Futures: Lower

• Gradually extended on the prior day's declines as the tech selling resumed, and with Netflix shares pressured following its earnings results and weak guidance.

European Equity Futures -0.7%

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