[MARKET ANALYSIS] Asia-Pac stocks climbed after Trump announced US-Iran talks and to postpone strikes on Iranian energy infrastructure, while Iran denied talks

APAC Stocks: Positive

• Asia-Pac bourses took their cues from the positive performance on Wall St, where stocks rallied, and oil dropped after US President Trump announced US-Iran conversations and a five-day halt of strikes against Iranian energy infrastructure, while Iran denied the talks and called it fake news. Nonetheless, stocks gained in Asia but are off their earlier highs as the conflict persisted overnight, while oil prices also partially rebounded amid news that gas-related facilities were hit in strikes on Isfahan in central Iran, where offices belonging to a gas company and a gas pressure reduction station were damaged.

ASX 200: +0.3%

• Climbed at the open with outperformance in mining, materials and resources, although the index has since pared the majority of earlier gains with losses seen in tech and financials, while flash PMI data weakened.

Nikkei 225: +0.7%

• Trades higher but has given back most of its initial gains and returned to beneath the 52,000 level with headwinds seen as oil prices partially rebounded from yesterday's slump.

Hang Seng & Shanghai Comp: Hang Seng +1.4% / Shanghai Comp +0.8%

• Chinese markets outperform amid tech strength and with attention on earnings releases.

US Equity Futures: Negative

• Trickled lower as strikes in the Middle East continued and oil partially rebounded.

European Equity Futures -0.7%

• Indicate a lower cash market open with Euro Stoxx 50 futures down 0.7% after the cash market closed with gains of 1.3% on Monday.