[MARKET ANALYSIS] Sentiment in Asia sours as yields and oil prices rebound

APAC Stocks: Mostly negative

• Asia-Pac stocks are mostly lacklustre, with the region failing to take inspiration from the gains on Wall St, where the S&P 500 and Nasdaq printed fresh all-time highs, while the sentiment soured overnight amid a rebound in oil and yields.

ASX 200: Flat

• Struggles for direction with the index flat for the session in the absence of any major catalysts and tier-1 data.

Nikkei 225: -0.6%

• Retreated with investors booking profits following the recent rally in the index, which just about holds on to the 70,000 status, and with participants reflecting on Labour Cash Earnings data, which decelerated but still topped forecasts, while there was also pressure seen in brewers including Asahi on reports that Japan's FTC is probing Japan's four major breweries over suspected price fixing.

KOSPI -1.0%

• Underperforms in choppy trade with the index weighed on by weakness in SK Hynix, while Samsung Electronics is indecisive ahead of its preliminary earnings results tomorrow.

Hang Seng -0.8%

• Conformed to the downbeat mood amid tech-related weakness and continued absence of mainland participants, who will be returning from the week-long holiday closure tomorrow.

US Equity Futures: Mixed

• Trade range-bound and took a breather after the fresh record highs on Wall St.

European Equity Futures -0.6%

• Indicate a lower cash market open with Euro Stoxx 50 futures down 0.6% after the cash market closed with gains of 0.5% on Tuesday.