News

Hong Kong-listed mainland property stocks rallied, with Ronshine China (03301.HK) surging over 9%, followed by gains in other stocks such as CIFI Holdings Group (00884.HK), Shimao Group (00813.HK), China Jinmao (00817.HK), China Resources Land (01109.HK), and Greentown China (03900.HK).

The Hang Seng Index (HSI) opened 223.58 points higher, or 0.92%, at 24434.93 on Monday, October 12th; the Hang Seng Tech Index opened 43.23 points higher, or 1.03%, at 4241.07 on Monday, October 12th; the Hang Seng China Enterprises Index opened 81.45 points higher, or 1.0%, at 8229.32 on Monday, October 12th; and the Hang Seng Red Chip Index opened 12.18 points higher, or 0.3%, at 4061.13 on Monday, October 12th.

The Governor of the Bank of Korea stated that the fundamentals of the US dollar against the Korean won are sound, and the exchange rate is expected to remain stable.

The Indian rupee rebounded in the non-deliverable forward market after the Reserve Bank of India increased its support.

Australian Foreign Minister Penny Wong: Australia condemns the Houthi attacks on Saudi Arabia.

Euro Stoxx 50 futures rose 0.4%, the German DAX index rose 0.4%, and the UK FTSE futures rose 0.3%.

According to Politico: A U.S. judge has ordered an immediate halt to taxpayer-funded ads supporting Trump.

Australia's S&P/ASX 200 index opened 24.60 points higher, or 0.28%, at 8741.20 on Monday, October 12.

[Important Events and Data Preview for This Week: September CPI in China and the US, Warsh's Speech, Refined Oil Price Adjustment] 1. Monday: ① Data: China's September M2 money supply annual rate (to be determined). ② Events: The annual meetings of the International Monetary Fund (IMF) and the World Bank will be held in Bangkok until the 18th. ③ Holidays: The Toronto Stock Exchange in Canada will be closed for one day; the Tokyo Stock Exchange in Japan will be closed for one day; the US stock market will be open as usual, and CME's US Treasury futures will also be traded as usual, but the US spot bond market will be closed all day. 2. Tuesday: ① Data: Germany's final September CPI month-on-month rate; the US September NFIB Small Business Confidence Index, the US ADP employment change for the week ending September 26, and the US September existing home sales (annualized). ② Events: OPEC releases its monthly oil market report; 2026 FOMC voting member and Cleveland Fed President Hamak speaks; RBA releases minutes of its September monetary policy meeting; IMF releases its October 2026 World Economic Outlook report; Fed Governor Waller speaks at the Bloomberg New Economy Forum in India; Apple holds a smart home product launch event in New York. ③ Earnings Reports: JPMorgan Chase, Goldman Sachs, Citigroup. 3. Wednesday: ① Data: China's September CPI year-on-year rate; US September unadjusted CPI year-on-year rate, US September seasonally adjusted CPI month-on-month rate, US September seasonally adjusted core CPI month-on-month rate, US September unadjusted core CPI year-on-year rate; China's September trade balance in US dollars (pending), China's September trade balance (pending). ② Events: 2028 FOMC voting member and Boston Fed President Collins speaks; Bank of Canada Governor Macklem participates in a fireside chat at the Institute of International Finance (IIF) annual general meeting in Bangkok; IEA releases its monthly oil market report; ECB President Lagarde speaks on Europe's digital future; Fed Governor Bowman speaks. ③ Earnings Reports: Morgan Stanley, Bank of America, ASML (after US stock market close). 4. Thursday: ① Data: US API crude oil inventories for the week ending October 9; Australia's seasonally adjusted unemployment rate for September; UK's three-month GDP month-on-month rate for August, UK's manufacturing output month-on-month rate for August, UK's seasonally adjusted goods trade balance for August, UK's industrial production month-on-month rate for August; France's final CPI month-on-month rate for September; Eurozone's industrial production month-on-month rate for August; 20:30 Canada's wholesale sales month-on-month rate for August; 20:30 US initial jobless claims for the week ending October 10; 20:30 US retail sales month-on-month rate for September; US PPI year-on-year rate for September, US PPI month-on-month rate for September, US New York Fed Manufacturing Index for October, US Philadelphia Fed Manufacturing Index for October, US business inventories month-on-month rate for August, US EIA natural gas inventories for the week ending October 9; China's total electricity consumption year-on-year for September (pending); China's total electricity consumption for September (pending). ② Events: A new round of price adjustments for domestic refined oil products will begin; G20 Finance Ministers and Central Bank Governors Meeting; Federal Reserve releases Beige Book on economic conditions. ③ Earnings Reports: TSMC. 5. Friday: ① Data: US EIA crude oil inventories for the week ending October 9, US EIA Cushing, Oklahoma crude oil inventories for the week ending October 9, US EIA Strategic Petroleum Reserves for the week ending October 9; Eurozone September CPI year-on-year final reading, Eurozone September CPI month-on-month final reading, Eurozone August seasonally adjusted trade balance; US September import price index month-on-month, US September industrial production month-on-month. ② Events: 2026 FOMC voting member and Cleveland Fed President Hamak delivers a speech; Bank of England Governor Bailey participates in a fireside chat; Federal Reserve Chairman Warsh attends the IMF Annual Meetings in Bangkok and holds a fireside chat with IMF Managing Director Georgieva [simultaneous interpretation]; Bank of Canada Governor Macklem attends the IMF Annual Meetings and participates in a panel discussion. 6. Saturday: ① Data: Total number of US oil rigs for the week ending October 16. ② Events: Bank of England Governor Bailey delivers a speech.

The Saudi Civil Aviation Authority said that an attack on Riyadh's King Khalid International Airport on Sunday killed one person and injured 11 others.

Former US Vice President Harris: The culprit behind soaring diesel and gasoline prices in the US is Trump and his war against Iran. His latest tactic—selling fuel solutions to his ally Putin—demonstrates weakness; it funds Russian military operations but does nothing to ease the burden on American families.

U.S. stock index futures opened slightly higher on Monday.

US President Trump: Katie Zacharia will officially assume the role of press secretary tomorrow (October 12th, Eastern Time) – Columbus Day – and will hold her first press conference at 9:30 a.m. on Tuesday in the White House Press Briefing Room. Katie has been with me from the very beginning, and I'm sure she will do an excellent job.

The British Embassy in Saudi Arabia issued a notice on social media advising British citizens to avoid travel to Jeddah and Dammam, as well as all Saudi airports except Medina.

The UK Maritime Trade Organization has reclassified the incident at the Sohar anchorage in Oman as an attack. The tanker was attacked by drones, and local authorities are assisting with the evacuation of the crew.

Iranian Supreme National Security Council Secretary Rezaei: US President Trump, blinded by the illusion of conquering Iran and deceived by Israeli Prime Minister Netanyahu, launched one of the most foolish wars in human history. Now, after the US Navy failed to reopen the Strait of Hormuz, he has resorted to smuggling. The US military has never stooped to such a shameful level.

According to the Wall Street Journal, sources say Amazon (AMZN.O) is in talks to acquire artificial intelligence startup Decart for about $7 billion, a deal that could value Decart at around $7 billion.

According to the Wall Street Journal, sources say Amazon (AMZN.O) is in talks to acquire artificial intelligence startup Decart.

Canadian Prime Minister Carney's office: Canadian Prime Minister Carney supports an energy ceasefire between Ukraine and Russia.

Canadian Prime Minister Carney's office: Canadian Prime Minister Carney spoke with US President Trump.