[MARKET ANALYSIS] Asia-Pac stocks trade with a mild positive bias as the region reflects on earnings releases and US jobs data

APAC Stocks: Marginally Positive

• Asia-Pac stocks trade with a slightly positive bias as the region reflects on earnings releases and the better-than-expected US jobs data, while Japan's benchmark hit a fresh record high on return from holiday, before fading the gains.

ASX 200: +0.5%

• Index is led higher by strength in utilities and financials after shares in Origin Energy and ANZ Group rallied post-earnings, but with upside in the broader market capped by hawkish rhetoric from RBA Governor Bullock.

Nikkei 225: -0.1%

• Swung between gains and losses with the index climbing to above the 58,000 level for the first time, but then gradually pared all of its gains as currency strength persisted.

Hang Seng & Shanghai Comp: Hang Seng -0.9% / Shanghai Comp +0.2%

• Chinese markets are mixed with the Hong Kong benchmark dragged lower by underperformance in the likes of Budweiser and NetEase following their earnings releases, with the latter also weighing on peers such as Tencent, Baidu and Meituan. Conversely, the mainland is marginally positive after another firm liquidity operation by the PBoC and after China's State Council held a session on boosting AI use with Premier Li urging to promote the use of AI in various sectors, while there are also expectations for US President Trump and Chinese President Xi to extend the trade truce by up to a year during their expected April meeting in Beijing.

US Equity Futures: Rangebound

• US index futures are kept afloat in range-bound trade after their choppy post-NFP performances.

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 0.2% on Wednesday.

Asia-Pacific stocks are seeing a mild positive bias today, buoyed by better-than-expected US jobs data, which suggests a resilient labor market. However, gains are moderated by hawkish comments from RBA officials, impacting sentiment in Australia. Market participants will likely continue to assess earnings releases and macroeconomic signals that could influence regional performance.