[MARKET ANALYSIS] Asia-Pac stocks are subdued after recent tech selling and geopolitical uncertainty, despite Trump's 10-day deadline extension

APAC Stocks: Mixed

• Asia-Pac stocks are mostly subdued following the tech and comms-led selling stateside, with the regional indices pressured despite US President Trump's 10-day extension to the Strait of Hormuz deadline. The delay extends the pause on strikes against Iran's energy facilities through to April 6th, which Trump said was due to a request by Iran, which had wanted a 7-day extension, but he gave them due to Iran's Hormuz 'gift'. Nonetheless, mixed signals persisted as mediators stated that Iran had not made a request for a 10-day extension, while it was also reported that the US is considering sending up to an additional 10k ground troops to the region and that Trump is weighing several options for dramatically escalating the war if his latest diplomacy efforts fail.

ASX 200: -0.5%

• Retreated with underperformance seen in tech, real estate and gold miners, while a lack of fresh catalysts outside of geopolitics and the absence of data kept price action subdued.

Nikkei 225: -0.7%

• Retreated at the open and briefly dipped below the 53,000 level following the recent upside in oil and yields, but has since clawed back some of the losses.

Hang Seng & Shanghai Comp: Hang Seng +0.1% / Shanghai Comp +0.2%

• Chinese markets are kept afloat, albeit in rangebound trade as participants digest a slew of earnings releases, while it was also reported that China's Commerce Minister Wang met with USTR Gree and said that China is willing to strengthen economic and trade cooperation with the US.

US Equity Futures: +0.2%

• Eked slight gains but with only brief support seen following Trump's 10-day deadline extension on Iran, as headwinds from recent tech selling and geopolitical uncertainty persisted.

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 1.5% on Thursday.