[MARKET ANALYSIS] Asia-Pac stocks trade mixed after the initial rebound from yesterday's tech sell-off lost steam

APAC Stocks: Mixed

• Asia-Pac stocks saw mixed price action as the initial rebound from the prior day's tech-driven sell-off gradually waned, in the absence of any fresh major catalysts.

ASX 200: +0.1%

• Trades rangebound as strength in tech and defensives is counterbalanced by losses in mining and energy following the recent declines in underlying commodity prices, while inflation data was mixed and would likely have little bearing on monetary policy.

Nikkei 225: -0.4%

• Failed to sustain early gains and dipped back beneath the 70,000 level, while Services PPI data printed in line with forecasts and the BoJ Summary of Opinions showed members continued to advocate for further rate increases.

Hang Seng & Shanghai Comp: Hang Seng -0.1% / Shanghai Comp -0.3%

• Chinese markets were also indecisive as the attention turned to the WEF in Dalian, where Chinese Premier Li said China's economy shows resilience and maintains sound momentum, while he added that China remains committed to opening up and will continue to accelerate the large-scale application of new technologies.

US Equity Futures: Rangebound

• Attempted to nurse some of the losses from the recent global tech sell-off.

European Equity Futures -0.1%

• Indicate a marginally lower cash market open with Euro Stoxx 50 futures down 0.1% after the cash market closed with losses of 1.3% on Tuesday.