[MARKET UPDATE] Asia-Pac stocks begin higher as the region takes impetus from the gains on Wall St, where markets reversed the post-FOMC moves amid a Fed credibility boost and lower oil prices

A reversal attributed to restored Fed credibility typically reflects the market accepting the reaction function as stated, which tends to compress volatility across the front end and the dollar rather than reprice the terminal path outright. The Asia-Pac follow-through is the standard handoff sequence, with regional equities taking their cue from the US close and the Nikkei additionally sensitive to where the dollar-yen pair settles after the US rates move. The lower oil leg removes a complicating input for the inflation outlook that has historically amplified hawkish reads, and crude's behaviour around such events has often been as much about dollar direction as about supply. What is worth watching next is whether the reversal holds through the first full session of European and US trade, since conviction moves survive the reopening of the originating market while positioning-driven ones frequently do not.