Asia Pac Markets Weaker, Potential Fresh US Tech Curbs Weigh

Regional Asia Pac equities are tracking lower across the board. Losses have been prominent for Japan and South Korea stocks. This follows a generally poor end for global equity market sentiment at the end of last week. This has carried over into early trade this week, although US futures have stayed in positive territory in the first part of Monday trade. Eminis were last near 4367, around 0.22% higher, while Nasdaq futures are nearly 0.30% higher.

• Broader focus remains on escalation risks around the Israel/Hamas conflict, with Bloomberg reporting that the US has been talking with other countries in the region in an attempt to prevent the conflict spreading.
• Japan's Topix is down 1.50%, the Topix off by -1.8%. Tech sensitive plays are underperforming. At the margin reports of further US restrictions on China access to semiconductors is likely weighing (see this BBG link).
• The Kospi is off over 1.3%, while the Taiex is down nearly 1.3%, with similar factors at play.
• The HSI is off 0.43% at the break, while the CSI 300 is down 0.69%. A larger than expected MLF liquidity boost has done little to aid sentiment. The 1yr MLF rate was held steady at 2.50%, as expected. Prospects of fresh tech curbs will be weighing.
• The ASX 200 is off 0.35%, while NZ's market is down by 1%.in NZ a change of government to the centre-right National Party has taken place after the weekend's general election.
• SEA markets are weaker, with Thailand markets playing catch up to the downside (-1.50%), after being out last Friday.