[MARKET ANALYSIS] Asia-Pac stocks are mostly lower following the tech rout and flight-to quality stateside

APAC Stocks: Negative Asia-Pac stocks are mostly negative following the weak lead from Wall St, where a deepening of the tech rout had spurred a flight-to-quality, while geopolitical concerns linger following reports that the US and Israel have drawn up plans for renewed strikes on Iran, which could be implemented following the US midterm election. ASX 200: -0.3% Index is dragged lower by weakness in mining, materials, resources and tech stocks, although the downside is stemmed by some resilience in consumer discretionary, financials, real estate and utilities, while preliminary PMI data was uninspiring, with all main figures in contraction territory. Nikkei 225: -1.5% Retreated beneath the 62,000 level with notable weakness in tech and mining stocks, while the latest inflation data from Japan mostly matched estimates and showed an acceleration from the previous with headline and core readings back above the 2% price target. KOSPI -2.3% Underperformed as the tech sell-off rolled over into Asia and with SK Hynix also not helped after it pulled the plug on plans to list its Solidigm IPO on the Nasdaq. Hang Seng & Shanghai Comp: Hang Seng +0.2% / Shanghai Comp -1.8% Chinese markets are mixed after the Hong Kong benchmark rebounded from an early dip with the help of resilience in some of China's top EV makers, while the mainland conforms to the mostly downbeat mood. US Equity Futures: Rangebound Price action is lacklustre following the recent tech sell-off. European Equity Futures Flat Indicate an uneventful cash market open with Euro Stoxx 50 futures unchanged overnight after finishing with losses of 1.9% on Thursday.