If you want to raid, you should be on an Oceanic server, full-stop. The ping is relatively equal (I get 130 to US servers and 150 to Oceanic servers), but you'll have a much easier time finding a stable group to play with. Most guilds raid Sydney times (2 hours ahead in Japan winter, 1 hour ahead in Japan summer), so you'll likely have the most luck with guilds that start around 6 p.m. Japan time. You can also try joining a Singaporean guild if you prefer playing later, but you'll want to do a bit more research on that because a lot of Singaporean guilds can be insular.
If you're only interested in pugging, then it literally does not matter.