A day of high drama and unexpected developments is unfolding across the Asia-Pacific, as the international debut of Kim Jong Un’s young daughter in Beijing fuels intense succession speculation, a mysterious trading delay hits the world’s premier metals market, and a surprisingly strong economic report from Australia upends interest rate expectations.
Here’s your one-stop stand to catch up on all the headlines you may have missed.
Kim Jong Un’s daughter makes her international debut in China
In a move that has sent shockwaves through the world of international diplomacy, North Korean leader Kim Jong Un’s teenage daughter has made her international debut, appearing at his side during his high-profile visit to China.
The young girl, thought to be named Ju Ae and aged around 12 or 13, emerged from her father’s bulletproof train in Beijing, intensifying speculation that she is being groomed as his eventual successor.
Her first appearance at an overseas diplomatic event draws a direct parallel to Kim’s own visit to China in 2010 with his father, a trip that was seen as a key step in his own path to power.
While the famously opaque regime has not confirmed her status, South Korean intelligence has stated she is receiving lessons to one day take over the country.
Copper retreats from a five-month high as China outlook wavers
After a powerful rally that saw it briefly touch its highest price since late March, copper has cooled, as traders weigh the uncertain outlook for supply and demand in the world’s top market, China.
The wiring metal, which gained 3 percent in August and started September strong by surfacing above $10,000 a ton, is now facing a more complex picture.
While a weaker dollar and the prospect of US rate cuts have provided support, the state of the Chinese market is now in sharp focus.
Optimists point to higher import premiums and the possibility of domestic supply constraints, with one analyst noting that reduced supply and stable demand should support prices.
London Metal Exchange delays start of Asia trading by 90 minutes
The London Metal Exchange (LME), the world’s center for industrial metals trading, experienced a mysterious and unexplained delay to the start of its Asian trading session on Wednesday.
The electronic platform, which usually opens at 8 a.m. Beijing time, did not begin trading until 9:30 a.m. Brokers circulated messages about the 90-minute postponement without providing a reason, according to LME traders.
After the late start, copper futures in London climbed to their highest level since March.
The exchange did not immediately respond to a request for comment on the cause of the delay.
Australia’s economic growth beats forecasts, boosting case for RBA to hold
Australia’s economic growth accelerated in the second quarter, a surprisingly strong performance that has reinforced the case for the Reserve Bank to keep interest rates on hold later this month.
Gross domestic product advanced 0.6 percent in the three months through June, faster than the predicted 0.5 percent and double the pace of the prior quarter.
The 1.8 percent annual expansion also decisively beat forecasts. The robust figures, led by strong household consumption, “should put to bed fears around growth tailing off,” said one analyst.
Money markets are now sticking with their expectation that the central bank will stay on hold in September before potentially cutting rates in November.
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