[MARKET ANALYSIS] Asia-Pac equities trade in the green across the board despite weakness stateside following Fed subpoenas and geopolitics

• Asia-Pac stocks are entirely in the green, following on from the positivity seen stateside during Friday's session. Japanese traders were away today amid a domestic holiday. 
• ASX 200 did see gains of as much as 0.7% as the APAC session got underway but has started to pare back slightly as XAU back away from new record highs. Despite spot XAU pulling back, ASX gold is the sector outperformer (+2.9%), followed by consumer discretionary (+1.7%) and energy (+0.9%).
• KOSPI is the Asian outperformer, currently trading +1.2%. Gains are led in the constructions and machinery sector (+4.7%) despite a clear driver. Financials and vehicles components remain near the top of the sector pile (+3.9%).
• Hang Seng and Shanghai Comp. are in the green but slightly lagging behind its Asian peers but trading with modest gains, up 0.4%.
• US equity futures are in the red across the board (ES -0.5%, NQ -0.8%), weighed by news of the subpoenas by federal prosecutors to Fed Chair Powell.
• European equity futures are indicative of an uneventful open with the Euro Stoxx 50 future flat after cash closed +1.6% on Friday.

The Asia-Pacific equities are benefiting from positivity despite challenges in the US, specifically following subpoenas issued to the Federal Reserve. The broader gains in Asia, led by strong performances in the KOSPI and ASX gold sector, suggest a divergence where regional investors remain optimistic, potentially looking for opportunities even in a fragile global context. With US futures down, the situation reflects a cautious sentiment tempered by geopolitical pressures and domestic legal inquiries affecting the Fed.