[MARKET ANALYSIS] Asia-Pac stocks head into month-end mostly on the front foot after reports of a tentative agreement for a US-Iran ceasefire extension

APAC Stocks: Positive

• Asia-Pac stocks head into month-end on the front foot as the region took impetus from the gains stateside, where the S&P 500 and Nasdaq 100 posted record highs amid reports of a tentative agreement regarding an MOU for a 60-day US-Iran ceasefire extension and to launch negotiations on Iran's nuclear programme, although it still needs approval from US President Trump, while Iranian sources also pushed back and stated it was not finalised.

ASX 200: +1.1%

• Index is led higher by outperformance in the mining, materials and resources industries, while Energy and defensive sectors are at the other end of the spectrum as geopolitics and commodity prices drive prices.

Nikkei 225: +1.9%

• Rallied to retest the 66,000 level amid lower oil prices and following a slew of data, including softer Tokyo CPI, lower Unemployment Rate, and better-than-expected Industrial Production & Retail Sales.

Hang Seng & Shanghai Comp: Hang Seng +0.3% / Shanghai Comp -0.3%

• Chinese markets are mixed and lag behind their regional peers amid headwinds from earnings, with automakers pressured following weak results from XPeng, while sentiment is also not helped by trade frictions as the EU is set to discuss restrictions on Chinese imports.

US Equity Futures: Flat

• Price action is rangebound after gaining on the tentative agreement for a US-Iran ceasefire extension.

European Equity Futures +0.1%

• Indicate a mildly positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with losses of 0.3% on Thursday.