[MARKET ANALYSIS] Asia-Pac stocks are mostly positive after Wall St extended on the ceasefire momentum, despite sporadic strikes

APAC Stocks: Mostly positive

• Asia-Pac stocks are mostly higher following the gains on Wall St, where markets extended on the ceasefire-driven momentum, although strikes continued in the region and Israel declared to continue striking Lebanon ahead of talks next week. Furthermore, shipping through the Strait of Hormuz remains at a virtual standstill, and US President Trump criticised Iran on the Strait of Hormuz and warned it to stop charging tolls in the strait.

ASX 200: -0.3%

• Dragged lower by underperformance in tech and energy, while nearly all sectors are lacklustre, aside from the mild resilience seen in real estate.

Nikkei 225: +1.6%

• Rallied with index heavyweight Fast Retailing among the top gainers after its shares hit fresh record highs following strong earnings results, while participants also reflected on PPI data, which ultimately printed mixed, but showed an acceleration for both the M/M and Y/Y figures.

Hang Seng & Shanghai Comp: Hang Seng +0.7% / Shanghai Comp +0.7%

• Chinese markets are higher amid some strength in tech, property and auto stocks, while the latest inflation data for China was mixed as CPI printed softer-than-expected, but PPI slightly topped forecasts and showed a return to growth in factory gate prices for the first time in more than three years.

US Equity Futures: Rangebound

• Price action is sideways with index futures holding on to recent spoils.

European Equity Futures +0.6%

• Indicate a higher cash market open with Euro Stoxx 50 futures up 0.6% after the cash market closed with losses of 0.3% on Thursday.