[MARKET ANALYSIS] Asia-Pac stocks decline after the tech losses on Wall St and uncertain geopolitical climate

APAC Stocks: Negative

• Asia-Pac stocks are mostly lower following the negative handover from the US, where risk sentiment was weighed on by the recent retaliatory attacks between the US and Iran, as well as weakness in tech stocks.

ASX 200: -1.3%

• Index was dragged lower by underperformance in the mining and materials industries, while most sectors are subdued aside from the resilience in defensives.

Nikkei 225: -1.7%

• Retreated from record levels and briefly tested the 67,000 level to the downside amid intervention risks following FX comments from Japanese PM Takaichi, while comments from BoJ Governor Ueda signalled the central bank could resume rate normalisation this month.

Hang Seng & Shanghai Comp: Hang Seng -1.4% / Shanghai Comp -0.4%

• Chinese markets conform to the downbeat mood amid tech-related headwinds and with the PBoC refraining from open market operations for a second consecutive day.

US Equity Futures: Lower

• Remained subdued following the prior day's tech-related losses and were also not helped by pressure in Broadcom and CrowdStrike post-earnings.

European Equity Futures -0.4%

• Indicate a lower cash market open with Euro Stoxx 50 futures down 0.4% after the cash market closed with losses of 0.9% on Wednesday.