A day of significant global developments is underway, as North Korean leader Kim Jong Un arrives in China for a rare and highly symbolic summit, India’s market regulator moves to curb speculation, and the price of Russian oil continues to fall for its key Asian buyers.
This flurry of activity is setting a complex and dynamic tone for markets across the region.
Here’s your one-stop stand to catch up on all the headlines you may have missed.
North Korea’s Kim Jong Un crosses into China by train to meet Xi, Putin
In a rare overseas trip that will underscore his growing ties with Beijing and Moscow, North Korean leader Kim Jong Un entered China on Tuesday aboard his private train.
He is heading to Beijing to attend a major military parade commemorating the 80th anniversary of the end of World War Two, where he will stand alongside Chinese President Xi Jinping and Russian leader Vladimir Putin.
North Korea’s official Korean Central News Agency confirmed the visit early Tuesday, noting he was accompanied by his foreign minister and other senior officials.
The visit is Kim’s first to China since January 2019 and a powerful symbol of a new, coordinated challenge to the US-led world order.
Russian oil gets cheaper for India as US ramps up trade criticism
The price of Russian crude oil is becoming even more attractive for Indian buyers, a development that comes as New Delhi faces sustained and intense pressure from the US to cut its energy trade with Moscow.
The price of Urals crude has now dipped to a discount of $3 to $4 a barrel to Brent on a delivered basis for cargoes loading in late September and October, according to people who received the offers.
This is wider than the $2.50 discount seen last week, and stands in stark contrast to more expensive US crude, which was recently priced at a premium of around $3.
Indian refiners have continued to buy Russian oil despite the Trump administration’s punishing tariffs and sharp public criticism.
Japan’s Metaplanet secures new funding tools to buy Bitcoin
Japanese Bitcoin treasury Metaplanet Inc. has secured shareholder approval for a proposal that will allow it to raise as much as 555 billion yen ($3.8 billion) via the issuance of preferred shares.
The move is a bid to dramatically expand its financing options as it continues its aggressive accumulation of Bitcoin.
The company, which currently holds about 20,000 Bitcoin, has a stated goal of quintupling its stockpile to 100,000 by the end of 2026. The vote comes after the firm announced plans last week to raise around 130 billion yen by selling stock overseas.
India tightens equity options rules again after Jane Street saga
India’s securities regulator is imposing further restrictions on equity-index options trading in a bid to curb speculation, just months after its high-profile crackdown on the US trading giant Jane Street Group.
Starting October 1, the Securities and Exchange Board of India (SEBI) will cap intraday positions at 50 billion rupees (567 million dollars) on a net basis, a significant change from the previous regime, which had no limit.
The move is the latest in a string of curbs aimed at cooling India’s booming options market and checking alleged manipulation, and follows SEBI’s temporary ban on Jane Street in July for allegedly manipulating an index of bank stocks.
The post Morning brief: Kim meets Xi, Putin in Beijing; India tightens options rules appeared first on Invezz