[MARKET ANALYSIS] Asia-Pac stocks are mostly higher after positive US lead and lower oil prices

APAC Stocks: Mostly positive

• Asia-Pac stocks are mostly higher following the mildly positive handover from Wall St and as oil prices trickle lower, while markets now await a flurry of upcoming central bank policy decisions, including from the FOMC on Wednesday.

ASX 200: +0.3%

• Mildly gained with the help of strength in tech, utilities and real estate, but with gains limited amid weakness in health care and the consumer sectors following the recent central bank rate hike, while money markets are currently pricing a coin flip for a third consecutive hike in May.

Nikkei 225: +2.4%

• Rallied closer towards the 55,000 level amid several positive factors, such as mostly better-than-expected trade data, which showed a surprise surplus and with exports topping forecasts. US and Japan are also set to agree on the joint development of rare earths, copper, and lithium at a summit on Thursday, while they will jointly develop AI shipbuilding robots, with Japan aiming to double shipbuilding output by 2035. Furthermore, participants are on the lookout for the first wave of corporate responses to the Shunto wage demands, and the BoJ also kicks off its 2-day policy meeting.

Hang Seng & Shanghai Comp: Hang Seng -0.4% / Shanghai Comp -0.1%

• Chinese markets lag with weakness seen in auto stocks and China's oil majors, while reports that multiple Chinese companies were said to have received approval from authorities to purchase NVIDIA H200AI chips failed to spur a rally.

US Equity Futures: Positive

• Gradually edged higher overnight amid lower oil prices, although gains are capped with the FOMC on the horizon.

European Equity Futures +0.4%

• Indicate a higher cash market open with Euro Stoxx 50 futures up 0.4% after the cash market closed with gains of 0.5% on Tuesday.

Asia-Pacific stocks are primarily higher, bolstered by a positive US market lead and easing oil prices. This indicates a shift in sentiment, positioning investors cautiously optimistic as they anticipate central bank policy decisions, particularly from the FOMC this week, which could reset market expectations around rate hikes and growth outlooks.