[MARKET ANALYSIS] Asia-Pac stocks mostly take impetus from the tech-led gains on Wall St after oil prices and yields declined amid Strait of Hormuz optimism

APAC Stocks: Mostly Positive Asia-Pac stocks are mostly in the green following the gains on Wall St, where sentiment was underpinned amid Strait of Hormuz optimism, lower oil prices and a drop in yields, while participants look ahead to NVIDIA earnings. ASX 200: -0.2% Trades lower following another deluge of earnings releases and hotter-than-expected monthly CPI data, while the Construction Work disappointed with a surprise contraction and feeds into next week's GDP numbers. Nikkei 225: +0.5% Declined at the open following the firmer-than-expected Services PPI data, but then gradually rebounded and returned to above the 66,000 level. KOSPI +1.9% Saw two-way trade, but ultimately outperformed, with price action largely at the whim of the tech heavyweights. Hang Seng & Shanghai Comp: Hang Seng +0.8% / Shanghai Comp +0.8% Chinese markets are underpinned as participants digest a deluge of earnings, with Alibaba shares supported after its founder Jack Ma bought more than HKD 600mln of the Co.’s Hong Kong-listed shares over two consecutive days, signalling confidence in its long-term AI prospects. US Equity Futures: Mixed Price action is indecisive overnight following recent gains and as participants brace for NVIDIA earnings. European Equity Futures +0.2% Indicate a mildly positive open with Euro Stoxx 50 futures up 0.2% after the cash market closed with gains of 0.1% on Tuesday.