[MARKET ANALYSIS] Asia-Pac stocks are higher following the recent easing of oil price pressures

APAC Stocks: Positive

• Asia-Pac stocks trade higher as the recent easing of oil prices helped the region shrug off the lacklustre lead from Wall St and reports of Iran beginning to lay mines in the Strait of Hormuz.

ASX 200: +0.5%

• Index gained with strength in mining, resources, materials and financials, front running the advances, but with upside capped amid increased bets for the RBA to hike rates at next week's meeting following recent central bank rhetoric and calls by some of Australia's largest banks for consecutive rate increases in March and May.

Nikkei 225: +2.4%

• Rallied following the recent easing of oil price pressures and as softer-than-expected PPI data, which showed a surprise monthly deflation, supports the case for the BoJ to hold off on policy normalisation.

Hang Seng & Shanghai Comp: Hang Seng +0.3% / Shanghai Comp +0.1%

• Chinese markets are also in the green, albeit lagging behind their regional peers with little fresh catalysts and with Chinese officials said to be frustrated by what they see as insufficient US preparation for the Trump-Xi summit later this month.

US Equity Futures: +0.4%

• Edged higher but with upside capped following the recent oil and geopolitically-driven fluctuations.

European Equity Futures Flat

• Indicate an uneventful cash market open with Euro Stoxx 50 futures unchanged after the cash market closed with gains of 2.7% on Tuesday.