[MARKET ANALYSIS] Asia-Pac stocks are mixed after the recent drop in oil prices and upside in long-term US yields, while participants digest a slew of data at month- and quarter-end

APAC Stocks: Mixed Asia-Pac stocks are ultimately mixed following the recent drop in oil prices and upside in long-term US yields, while participants digest a slew of data at month- and quarter-end. ASX 200: +1.0% Rallied with nearly all sectors in the green and real estate leading the advances as softer-than-expected headline monthly CPI data and a wider contraction in building approvals lessen the odds for an RBA November rate hike. Nikkei 225: +1.0% Gapped above the 66,000 level with the index shrugging off disappointing Industrial Production and Retail Sales data, in which the former showed a surprise contraction. KOSPI -0.1% Faded initial gains with sentiment not helped by weak data and tensions with North Korea after a DMZ landmine explosion injured three South Korean officers, while South Korea's military stated that North Korea's fortification works increased tensions in the Korean peninsula and that it should apologise for its fortification works. Hang Seng & Shanghai Comp: Hang Seng Flat / Shanghai Comp +0.3% Chinese markets are somewhat varied, with the Hang Seng indecisive and the mainland mildly underpinned following the encouraging Chinese PMI data, in which headline official Manufacturing PMI matched estimates at 50.1, and Non-Manufacturing topped forecasts at 50.2 (exp. 49.3), while RatingDog Manufacturing and Services PMIs were both stronger-than-expected. In addition, the PBoC recently announced support measures including a 25bps cut to the Pledged Supplementary Lending facility rate to 1.50% from 1.75%, while participants look ahead to the National Day holidays and week-long closure in the mainland beginning tomorrow. US Equity Futures: Rangebound Price action is rangebound following the mostly subdued performance on Wall St, as long-term yields continued to rise despite a decline in oil prices, while a key US inflation gauge looms. European Equity Futures +0.7% Indicate a positive cash market open with Euro Stoxx 50 futures up 0.7% after the cash market closed with gains of 0.3% on Tuesday.