[MARKET UPDATE] Asia-Pac stocks are pressured at the open amid a widespread risk-off theme and with oil prices surging on the Iran conflict and disruption as UAE and Kuwait cut production

The Asia-Pacific markets are reacting negatively at the open, largely driven by heightened geopolitical tensions stemming from the Iran conflict, which is spurring a surge in oil prices. The concurrent production cuts by the UAE and Kuwait add further pressure, reflecting a broader risk-off sentiment that could impact not only energy stocks but also overall market stability and investor sentiment toward riskier assets. Keep an eye on how this might influence sector performance and currency flows in the region.