China’s Evergrande Group has supplied funds to pay interest on a dollar bond. The payment will bring some relief to investors and regulators worried about the wider fallout from a messy default and contagion hitting global financial markets elsewhere. Japan’s Nikkei rose on Evergrande’s debt payment, recouping early losses.
Oil prices will stay on our radar as they resumed their climb on Friday on continued tightness in U.S. supply. Brent crude futures climbed 24 cents, or 0.3%, to $84.85 a barrel.
In India, the Union Cabinet on Thursday approved PM GatiShakti National Master Plan, including implementation, monitoring and support mechanism, for providing multi-modal connectivity. Petrol and diesel prices were hiked again on on Thursday by 35 paise per litre each.
Capital markets regulator Sebi has asked investment advisers to refrain from dealing in digital gold, an unregulated financial product. – John Xavier