Asian equities reached a record high, outperforming US markets due to attractive valuations and robust growth prospects. This surge occurred as Treasuries declined following stronger-than-expected US jobs data, tempering expectations for Federal Reserve interest rate cuts. The market now awaits US inflation figures for further direction.
RBI mandates payment of inward remittances on same business day
The Reserve Bank of India is speeding up money transfers from abroad. Banks must now credit foreign payments to accounts on the same business day.