[MARKET ANALYSIS] Asia-Pac stocks take impetus from the gains on Wall St, where markets reversed the post-FOMC moves, while Nikkei rallies after BoJ hiked rates in a 7-2 vote

APAC Stocks: Positive Asia-Pac stocks are mostly 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. ASX 200: +0.1% Eked slight gains in range-bound trade with gains in tech and miners counterbalanced by weakness in defensives, telecoms, energy and financials, while there were comments from RBA Governor Bullock that lowering inflation is essential and that the key question is whether the tightening in monetary policy to date will be sufficient to bring inflation back to the target in a reasonable time. Nikkei 225: +1.7% Gained following the BoJ announcement to hike rates by 25bps, as widely expected, with the decision made by a 7-2 vote as Takaichi-appointed board members Asada and Sato dissenting, while the language from the central reaffirmed a hiking bias but didn't signal any major urgency as it also noted inflation expectations are heightening moderately and that underlying inflation is approaching 2%. Furthermore, the latest inflation data from Japan printed softer-than-expected on all key metrics of the report. KOSPI +2.9% Rallied with tech stocks buoyed following the outperformance in the Nasdaq stateside, while South Korean President Lee ruled out sending troops to the Strait of Hormuz. Hang Seng & Shanghai Comp: Hang Seng +0.8% / Shanghai Comp +1.0% Chinese markets conform to the broad positive mood, with reports noting that the US is expected to delay announcing excess manufacturing capacity tariffs till after the Trump-Xi summit, while MOFCOM said Chinese and US trade teams remain in close contact over negotiations on mutual tariff reductions covering USD 30bln. In addition, the PBoC conducted 7-day and 14-day reverse repo operations ahead of the National Day holidays in early October. US Equity Futures: Flat Paused overnight after clawing back post-FOMC losses yesterday and ahead of quadwitching. European Equity Futures -0.4% Indicate a lower cash market open with Euro Stoxx 50 down 0.4% after the cash market closed with gains of 0.9% on Thursday.