[MARKET ANALYSIS] Asia-Pac stocks traded mixed as the tech-led momentum on Wall St began to wane

APAC Stocks: Mixed

• Asia-Pac stocks are mixed with the region only partially sustaining the positive momentum from the tech-led gains on Wall St, where the S&P 500 and Nasdaq posted their best quarter in six years, while the region also digested a slew of data, including the stronger-than-expected BoJ Tankan survey and numerous PMIs.

ASX 200: -0.5%

• Index is dragged lower by weakness in the consumer, financial, tech and telecom sectors, while sentiment was also not helped by a surprise contraction in Building Approvals data.

Nikkei 225: +0.6%

• Initially rallied following the stronger-than-expected Tankan survey, which showed Large Manufacturing Sentiment was at the highest in 8 years, although the index gradually wiped out the majority of its gains amid intervention risks and as the data supports the case for the BoJ to continue normalising policy.

Shanghai Comp: Shanghai Comp +1.0%

• Mainland China was underpinned on the 105th anniversary of the founding of the Communist Party of China, and as participants digested the latest RatingDog Manufacturing PMI, which remained in expansion territory, while Hong Kong markets were closed for holiday.

US Equity Futures: Marginally lower

• Slightly pulled back following the prior day's tech-led momentum.

European Equity Futures -0.1%

• Indicate a slightly lower cash market open with Euro Stoxx 50 futures down 0.1% after the cash market closed with gains of 1.6% on Tuesday.