[MARKET ANALYSIS] Asia-Pac stocks are mostly pressured following the tech-led declines stateside, while yields remained elevated and Hormuz stalemate continues

APAC Stocks: Mostly Negative Asia-Pac stocks are mostly lower following the tech-led declines stateside, as yields remained elevated and oil continued to edge higher amid the ongoing geopolitical stalemate. ASX 200: -0.5% Retreated amid a deluge of earnings and with RBA Deputy Governor Hauser sticking to the hawkish script, while Australian wage data matched estimates and spurred little reaction. Nikkei 225: -2.5% Failed to benefit from stronger-than-expected Machinery Orders data and was pressured by the tech weakness, despite yields pulling back from multi-decade highs. KOSPI -5.5% Underperforms amid pressure in the tech heavyweights, while sentiment is also not helped by strained US-South Korea ties after US President Trump reduced the joint drills with South Korea and is said to be pushing for a meeting with North Korean leader Kim as soon as this fall. Hang Seng & Shanghai Comp: Hang Seng +0.1% / Shanghai Comp -1.8% Chinese markets are somewhat mixed, with the Hong Kong benchmark kept afloat as participants digest earnings releases including from Baidu and Xiaomi, while the mainland conforms to the broad downbeat mood. US Equity Futures: Marginally lower Remained subdued after the recent tech underperformance. 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 losses of 1.0% on Tuesday.