[MARKET ANALYSIS] Asia-Pac stocks trade mixed after Trump extended the ceasefire indefinitely, despite the collapse of Islamabad talks, but instructed the US military to continue the blockade

APAC Stocks: Mixed

• Asia-Pac stocks trade mixed as participants reflect on the latest geopolitical developments, including the collapse of peace talks in Islamabad, while US President Trump announced to extend the ceasefire until discussions conclude, but will maintain the naval blockade in Hormuz

ASX 200: -0.8%

• Declined with the index dragged lower by underperformance in health care and the top-weighted financial industry, while the mining sector is rangebound despite gains in BHP following its quarterly production update.

Nikkei 225: +0.5%

• Clawed back initial losses and printed a fresh record high with some encouragement from stronger-than-expected Exports and Imports data from Japan, while recent source reports continued to point to the central bank refraining from hiking rates next week.

Hang Seng & Shanghai Comp: Hang Seng -1.4% / Shanghai Comp +0.1%

• Chinese markets are mixed with the Hong Kong benchmark underperforming as tech weakness clouds over the strength seen in the Chinese oil majors, while the mainland is kept afloat in rangebound trade with very little fresh China-specific catalysts.

US Equity Futures: Positive

• Recouped some of yesterday's losses with some relief seen after US President Trump extended the ceasefire indefinitely, despite the collapse of Islamabad talks.

European Equity Futures -0.3%

• Indicate a lower cash market open with Euro Stoxx 50 futures down 0.3% after the cash market closed with losses of 0.9% on Tuesday.