[MARKET ANALYSIS] Asia-Pac stocks are varied amid oil fluctuations and mixed geopolitical headlines

APAC Stocks: Mixed

• Asia-Pac stocks are mixed with some indecision seen amid fluctuations in oil and mixed geopolitical headlines, including US President Trump's threats to obliterate Iran's energy infrastructure if a deal is not made soon, although he was also reported to have told aides he is willing to end the military operation in Iran without reopening Hormuz.

ASX 200: +0.9%

• Rallied with gains led by strength in tech, telecoms and financials, while there was little impact from the RBA minutes, which stated that board members agreed financial conditions needed to be restrictive and that a further tightening would likely be needed, but disagreed on whether to hike at the meeting. Furthermore, it agreed that it is not possible to predict the future path of the cash rate with any confidence, given the Middle East conflict.

Nikkei 225: -0.3%

• Retreated at the open but is well off lows amid fluctuations in oil and as participants digest a slew of mixed data.

Hang Seng & Shanghai Comp: Hang Seng -0.4% / Shanghai Comp -0.5%

• Chinese markets failed to sustain the early gains and dipped into negative territory despite the better-than-expected Chinese official PMI data, and with participants reflecting on a deluge of earnings releases.

US Equity Futures: Positive

• Rebounded overnight with the recovery facilitated by a pullback in oil and some optimism for an earlier end to the Middle East conflict.

European Equity Futures +0.4%

• Indicate a positive cash market open with Euro Stoxx 50 futures up 0.4% after the cash market closed with gains of 0.7% on Monday.