Stocks Generally Softer In Asia Hours

Tuesday's Asia-Pac session was much more sedate than Monday's offering, with most of the major regional benchmark indices ticking lower.

• The Nikkei 225 lost some steam after yesterday's politically-inspired bid, while mainland Chinese equities struggled as the PBoC continued to withdraw month end liquidity provisions. Some noted that the impact surrounding the recent Chinese PMI releases continues to be felt. Finally, COVID-related lockdowns have been imposed on just under 20 schools in Beijing, which may represent another source of pressure.
• The Hang Seng was the exception to the broader rule, with the tech space rallying as participants looked to pick up beaten down Chinese names. Some also suggested that the unwind of shorts in the sector helped fuel gains.
• E-mini futures sit around 0.2% lower after the space backed away from fresh record highs as we moved through Monday trade.