[MARKET ANALYSIS] Asia-Pac stocks trade mixed after mostly shrugging off the weak handover from US that was spurred by hot CPI and hawkish Fed speak

APAC Stocks: Mixed Asia-Pac stocks trade mixed as the region mostly shrugs off the subdued handover from Wall St, where all major indices finished in the red and the dollar and yields gained on hawkish Fed rhetoric and hotter-than-expected CPI data. This boosted hawkish Fed rate hike bets, with a December rate hike fully priced in, while money markets were also pricing a 10% probability for a greater 50bps move. ASX 200: +0.1% Ekes slight gains in rangebound trade as the rebound in tech is counterbalanced by losses in the top-weighted financial sector following earnings from Australia's largest lender, CBA, despite reporting an 8% increase in Q1 unaudited net profit. Nikkei 225: +1.2% Continues to benefit alongside the global tech recovery despite weakness in SoftBank shares after it posted a H1 net loss of JPY 768bln. KOSPI +1.7% Clawed back initial losses and outperforms its regional peers, while the Korea Exchange activated a sidecar on the Kosdaq, although the KOSPI is off today's best levels. Hang Seng & Shanghai Comp: Hang Seng -1.0% / Shanghai Comp -0.2% Chinese markets buck the trend with the Hong Kong benchmark suffering amid losses in biotech and EV makers, while the downside in the mainland is contained in the absence of any major catalysts. US Equity Futures: Positive Rebounded from the prior day's lacklustre performance on Wall St. 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 gains of 0.6% on Tuesday.