[MARKET ANALYSIS] Asia-Pac stocks trade mixed following the tech selling on Wall St

APAC Stocks: Mixed

• Asia-Pac stocks are mixed following the lacklustre handover from Wall St, where most major indices declined, and the Nasdaq underperformed as tech selling AI-related concerns were stoked by a report that OpenAI's annual revenue was USD 20bln below previous estimates, at USD 50bln versus USD 70bln, although there have been a couple of reports since that have somewhat contradicted this.

ASX 200: +0.6%

• Index is positive with the majority of sectors in the green, although gains are capped amid underperformance in telecoms and as commodity-related stocks also lag, to trade little changed on the day.

Nikkei 225: -0.8%

• Declined amid tech-related pressure, with the index also not helped by the closures of its tech-heavy counterparts in South Korea and Taiwan.

Hang Seng & Shanghai Comp: Hang Seng +0.9% / Shanghai Comp -1.4%

• Chinese markets have diverged amid performances in tech stocks and with the mainland pressured after a paltry liquidity operation by the PBoC, while the subdued spending during the National Day holiday raises questions regarding domestic demand in the Chinese economy.

US Equity Futures: Positive

• Rebounded overnight and have clawed back most of the prior day's tech-driven losses.

European Equity Futures +0.5%

• Indicate a positive cash market open with Euro Stoxx 50 futures up 0.5% after the cash market closed with losses of 0.9% on Thursday.