Australian and South Korean shares gained with US futures after the S&P 500 climbed 1.1% and the Nasdaq 100 rose 1.3%. Hong Kong contracts were little changed following a drop in US-listed Chinese stocks in a sign China’s outperformance against US equities this year may be faltering. Japanese markets are shut for a holiday, meaning there’s no trading of cash Treasuries in Asia.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.