[MARKET ANALYSIS] Asia-Pac stocks declined as oil and yields climbed on concerns that military action could resume as President Trump warned the clock is ticking on Iran, while the region also digests disappointing Chinese activity data

APAC Stocks: NegativeAsia-Pac stocks are mostly in the red after last Friday's losses on Wall St, and with risk sentiment sapped as oil prices and yields extended higher after US President Trump warned the clock was ticking on Iran, heading into a meeting on Tuesday with his national security team to discuss possible options for military action, while participants in the region also digest disappointing Chinese activity data.ASX 200: -1.4%Index was dragged lower amid losses across nearly all sectors aside from energy, and with sentiment not helped by disappointing data from Australia's largest trading partner.Nikkei 225: -1.0%Resumed its pullback from last week's record highs amid higher oil prices and the anticipation of the BoJ to resume rate normalisation next month.KOSPI +0.7%Price action is volatile, in which the index initially suffered heavy losses and the Korea Exchange triggered a sidecar in the KOSPI after KOSPI 200 futures dropped 5.0% with jitters seen as Samsung Electronics faces an 18-day strike involving nearly 45,000 of Samsung’s unionised workers starting on May 21st. However, the index then staged a firm rebound alongside Samsung shares after the union said it would engage in government-mediated pay talks and a court was said to partially accept an injunction request against the union's planned strike.Hang Seng & Shanghai Comp: Hang Seng -1.8% / Shanghai Comp -0.4%Chinese markets are pressured following the disappointing activity data in which Industrial Production, Retail Sales and Fixed Assets Ex-Rural Investment all missed forecasts, with the latter showing a surprise contraction, while the stats bureau noted the external situation is complex and that China's economic foundation still needs to be consolidated.US Equity Futures: LowerTrickled lower overnight amid the concerns surrounding a potential resumption of military action against Iran.European Equity Futures -1.1%Indicate a negative cash market open with Euro Stoxx 50 futures down 1.1% after the cash market closed with losses of 1.8% on Friday.