Market Analysis

[MARKET ANALYSIS] Asia-Pac stocks are mostly negative as sentiment sours on tech selling

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APAC Stocks: Mostly NegativeAsia-Pac stocks are mostly lower with the region subdued by recent tech-related pressure, and despite the predominantly positive handover from Wall St, where healthcare helped boost the Dow to a record high.ASX 200: -0.6%Index declined as the losses in the mining, materials and resources sectors overshadowed the outperformance in the health care.Nikkei 225: -1.4%Retreated amid tech selling but with the index off today's worst levels after bouncing off a floor beneath the 66,000 level, while data releases were mostly encouraging as Household Spending and Labour Cash Earnings topped forecasts, which effectively supports the argument for a BoJ rate hike this month.Hang Seng & Shanghai Comp: Hang Seng -0.8% / Shanghai Comp +0.2%Chinese markets are mixed with Hong Kong pressured after Beijing's recent efforts to tighten cross-border capital outflows, which have hit banks and casino names, while the mainland is marginally positive after the PBoC resumed open market operations.US Equity Futures: LowerTrickled lower as overnight sentiment soured amid tech weakness.European Equity Futures -0.1%Indicate a marginally lower open with Euro Stoxx 50 futures down 0.1% after the cash market closed with gains of 0.8% on Thursday.

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