[MARKET ANALYSIS] Asia-Pac stocks rallied on hopes of a near end to the Iran conflict

APAC Stocks: PositiveAsia-Pac stocks mostly rallied with global risk sentiment buoyed by hopes for an end to the Iran conflict following encouraging comments from the US and Iran, while President Trump also suggested that the war could end in 2 or 3 weeks and will deliver a nationwide address on Wednesday evening to give an important update regarding Iran.ASX 200: +1.8%Gained at the open and was led by outperformance in mining, materials, resources and tech, with nearly all sectors in the green apart from some defensives, while the index also shrugged off weak PMI data.Nikkei 225: +4.1%Surged to back above the 53,000 level amid hopes of a nearing end to the conflict and after the latest BoJ Tankan survey mostly topped forecasts, with the headline large manufacturing index at its highest in more than five years.Hang Seng & Shanghai Comp: Hang Seng +1.4% / Shanghai Comp +2.2%Chinese markets conformed to the broad upbeat mood across the region with notable strength seen in mining, tech and biopharmaceuticals, while a miss on Chinese RatingDog Manufacturing PMI and the smallest PBoC injection in more than a decade failed to derail the momentum.US Equity Futures: HigherHeld on to recent spoils amid the optimism regarding a potential off-ramp in the Iran war.European Equity Futures +1.8%Indicate a higher cash market open with Euro Stoxx 50 futures up 1.8% after the cash market closed with gains of 0.5% on Tuesday.