Having bought the rumour, US investors sold after the unveiling of President Trump’s tax plan. Although the initial response was positive, and US indices traded in the green for most of the session, the looming market close sparked a minor panic. The key question for Asia Pacific investors revolves around the potential for the sentiment reversal to erase yesterday’s gains.

A strengthening USD may work against local shares. Both gold and oil slipped, and other commodity markets were quiet to negative. Futures are pointing to a mixed opening across the region, with added weight on the Nikkei on the back of contrapuntal Yen gains. A monetary policy statement from the BoJ could slow activity despite a consensus around no change in rates.

BHP shares are in focus after a quarterly production result that disappointed. Despite revising down estimates BHP shares traded higher in London, but US investors were less forgiving, selling the stock down by around 1%. A similar move today could add to the weight on the Australia 200 index.