[MARKET ANALYSIS] Asia-Pac stocks are mixed after recent oil prices moves and hotter US inflation, while participants await the Trump-Xi summit

APAC Stocks: Mixed

• Asia-Pac stocks trade mixed following on from the mostly subdued handover from Wall St, where sentiment was dampened by tech weakness, higher oil prices and firmer-than-expected inflation, while the geopolitical situation remains uncertain with Iran said to require five confidence-building conditions for it to enter a second round of talks with the US.

ASX 200: -0.5%

• Declined amid weakness in the top-weighted financial sector after shares in Australia's largest lender CBA slumped around 10% following its earnings results, while the recent Budget announcement failed to spur risk appetite and is seen by analysts to hit consumer stocks.

Nikkei 225: +0.2%

• Clawed back initial losses after encouraging current account and bank lending data, but with upside capped amid hawkish market pricing of around a 70% chance for a BoJ rate hike next month.

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

• Chinese markets are mixed as participants digest earnings releases, and with the focus on the looming Trump-Xi summit, with the US President on his way to Beijing with various CEOs on Air Force One, including the late addition of NVIDIA CEO Jensen Huang.

US Equity Futures: Mixed

• US futures are varied following recent price swings and inflationary headwinds.

European Equity Futures +0.7%

• Indicate a positive cash market open with Euro Stoxx 50 futures up 0.7% after the cash market closed with losses of 1.5% on Tuesday.