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Looks like it’s just going to be one of those days where you come into work to find the election campaign of the sitting US president is under investigation by the FBI.

Wait, what?

FBI director James Comey has confirmed the bureau is probing possible links between Donald Trump’s presidential campaign and the Kremlin, an unprecedented public acknowledgment that pits the top US law enforcement agency against a sitting president.

Mr Comey also said the bureau had “no information” that supported tweets written by Mr Trump contending that his predecessor, Barack Obama, was “wire tapping” his campaign before the November election.

Although Mr Comey’s statements largely confirm what many in Washington had already assumed, the imprimatur of a public confirmation by the FBI gives the allegations against Mr Trump new credibility. Mr Comey said the bureau started the investigation in July, three months before the election.

In Asia Pacific equities, Sydney’s S&P/ASX 200 index is down 0.2 per cent in early trading, while futures tip Japan’s Topix index to fall 0.1 per cent and Hong Kong’s Hang Seng index is expected to rise 0.2 per cent when the morning session starts.

Corporate earnings reports out today include Cheung Kong Infrastructure, Power Assets Holdings, China Telecom Corp, TPG Telecom and Henderson Land.

The economic calendar for Tuesday is taking things nice and easy (all times Hong Kong):

  • 08.30: Australia March interest rate meeting minutes; Q4 house price index
  • 10.00: New Zealand credit card spending
  • 15.00: Japan convenience store sales
  • 16.00: Hong Kong composite consumer price inflation

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