China Announces Massive Fiscal Stimulus to Boost Economy.

China's Ministry of Finance is scheduled to hold a press conference on Saturday to provide further details on its fiscal stimulus plans, which are designed to revitalise the sluggish economy. This announcement follows the implementation of monetary stimulus measures and efforts to revive the property market by the Chinese government. The press conference, which will be attended by China's Minister of Finance, Lan Fo'an, will focus on the intensification of countercyclical fiscal adjustment in order to promote high-quality economic development. As part of its stimulus plans, China plans to issue special bonds worth approximately 2 trillion yuan ($283.43 billion) to boost economic growth. This move is seen as necessary due to the economic slump experienced in the second half of the year, which has made it unlikely for the government to achieve its targeted growth rate of around 5%.

China akan Memaparkan Kebijakan Fiskal yang Paling Dinantikan Pasar Sabtu (12/10) (kontan.co.id)

Bonds and Stocks Rally on RBI’s Rate Cut Hint.

The Reserve Bank of India (RBI) has indicated the potential for an interest rate reduction in the near term, reflecting growing confidence that inflation will subside. The newly constituted Monetary Policy Committee voted to maintain the benchmark repo rate at 6.5%. However, the committee altered the policy stance to "neutral," suggesting that a rate cut is likely to be implemented in the near future. Governor Shaktikanta Das stated that food costs, which comprise approximately half of the consumer price basket, are anticipated to decline in the coming months, thereby improving the inflation outlook. However, he also underscored the necessity for caution to prevent inflation from becoming unmanageable once again. In response to this news, bonds and stocks experienced gains, with the 10-year bond yield declining five basis points to 6.75%. The rupee also saw a slight increase.

Bank Sentral India Buka Peluang Pemangkasan Suku Bunga Pertama dalam 4 Tahun Terakhir (kontan.co.id)

Fed Hints at Rate Cut, stocks Rally

The US stock market rose for the second session on Wednesday, with the S&P 500 and Dow Jones Industrial Average closing at record highs. The rise was driven by technology stocks, with Amazon and Apple gaining more than 1% and Super Micro Computer strengthening by 4%. The Federal Reserve's September meeting minutes showed most participants supported a larger rate cut, despite ongoing concerns about a wider Middle East war and a disappointing session in China. The market's upward trend is reflected in the optimism that the Fed can achieve a soft landing, especially after last week's jobs report showed sustained strength in the labor market. However, the market may face further turbulence in a month historically volatile, especially leading up to the US presidential election.

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