[MARKET ANALYSIS] Asia-Pac stocks begin the week mostly higher in holiday-thinned trade and following the post-NFP unwinding of Fed rate hike bets

APAC Stocks: Mostly higher

• Asia-Pac stocks begin the week mostly on the front foot in holiday-thinned conditions and following the gains last Friday on Wall St, where stocks were underpinned as Fed rate hike bets were unwound in a knee-jerk dovish reaction to the weak jobs data.

ASX 200: +0.2%

• Ekes marginal gains but with upside, with miners, materials and healthcare helping keep the index afloat, although gains are limited amid weakness in utilities and consumer stocks.

Nikkei 225: +2.5%

• Rallied with the index reclaiming the 70,000 level amid strength in tech stocks, which seem to also benefit from the holiday closure in South Korea.

Hang Seng -0.3%

• Lags amid the continued absence of mainland participants and stock connect flows, while automakers are also pressured amid reports that the UK is considering imposing tariffs on Chinese electric vehicle imports amid concerns that Beijing is flooding the market with state-subsidised cars.

US Equity Futures: Rangebound

• Pared early upside and returned to flat territory amid a lack of major fresh catalysts over the weekend and with ISM Services data due later, while the main scheduled highlight is the FOMC Minutes on Wednesday.

European Equity Futures +0.3%

• Indicate a mildly positive cash market open with Euro Stoxx 50 futures up 0.3% after the cash market closed with gains of 1.0% on Friday.