[MARKET UPDATE] Asia-Pac begins the session on the backfoot following the negative handover from Wall St, where stocks pulled back from recent record highs amid fluctuations in yields

Standard APAC session open following a negative US handover, with equities backing off record highs on yield fluctuations. In episodes of this kind, the regional open tends to inherit the prior session's tone mechanically, and the more informative read is whether the selling broadens through the session or fades once the handover effect is absorbed, since opens that simply mirror Wall Street have historically shown limited follow-through absent a fresh regional catalyst. The yield framing matters: when the driver is rates rather than growth or earnings news, the equity pullback has tended to be shallower and more rotational, with duration-sensitive and high-multiple names underperforming the broader tape. Worth watching is how the dollar and regional FX behave alongside, since a yield-driven equity dip with a firm dollar has historically been the more persistent combination than one where the currency is stable. The absence of any regional data or central bank catalyst in the headline itself suggests positioning and profit-taking at highs rather than a change in fundamentals, a pattern that has often resolved with buyers re-emerging once the record-high round number is digested. Thin information content in the headline itself; this is a session recap, not an event.