US Inflation Surge Fuels Global Market Optimism.

On October 16, 2024, the Nikkei Indonesia Stock Index saw a 1.85% increase following a positive market performance on Wall Street. It is anticipated that investors in China will receive further stimulus to support the real estate sector. According to Reuters, the US economy saw a 2.2% year-over-year increase in consumer prices for the third quarter of 2024. The Korea Stock Exchange's index reached 2.5% in September, up from 2.4% in August. The Hang Seng Index in Hong Kong increased by 3.7%, while the S&P/ASX 200 in Australia rose by 0.4%. In Indonesia, business investment reached US$10 billion, while the Dow Jones Industrial Average and S&P 500 reached new highs. On Wednesday, the West Texas Intermediate index saw a 4% increase.

Nikkei Jepang Pimpin Koreksi di Pasar Asia Pasifik (investor.id)

Hong Kong Reduces LTV Ratio: Encourages Property Investment.

In order to stimulate economic growth and attract investment, Hong Kong has eased property regulations. The loan-to-value (LTV) ratio for residential properties has been set at 70%, enabling prospective homeowners to make reduced down payments of 30%. This change applies to properties with a price point above HK$35 million. Previously, the LTV ratio for this category of property was 60%. Furthermore, the LTV ratio for company-owned properties will be increased from 60% to 70%. The New Investment Scheme will also be expanded to include houses worth HK$50 million or more. Qualified investments with real estate investment value, limited to HK$10 million, will count towards the total capital investment. This new housing investment policy is expected to attract high net worth individuals to the city and compete with Singapore. Hong Kong is implementing this policy to strengthen its economy following China's increased influence.

Hong Kong Beri Insentif Demi Pacu Ekonomi (kontan.co.id)

Oil Price Stable: Middle East Conflict and Ample Supply.

Oil prices remained stable as market uncertainty surrounding the Middle East conflict persisted. Furthermore, the anticipation of a substantial supply next year exerted additional downward pressure on prices. Brent crude oil for December 2024 delivery increased by 18 cents, or 0.24%, to $74.43 per barrel, while West Texas Intermediate (WTI) crude oil for November 2024 delivery rose 18 cents, or 0.26%, to $70.76 per barrel. Geopolitical tensions and weak demand forecasts contribute to an uncertain outlook for crude oil prices, prompting market participants to exercise caution and anticipate further volatility. The ongoing conflict between Israel and the Iran-backed Hezbollah group continues to give rise to concerns. The OPEC+ supply restrictions, which are currently in place until December, are set to be gradually reduced by certain members. Despite these developments, the geopolitical risk premium is not expected to disappear in the near term. Furthermore, both OPEC and the International Energy Agency have highlighted the potential for a surplus supply by 2025.

Harga Minyak Menguat 0,2%, Tersengat Ketidakpastian Timur Tengah yang Terus Berlanjut (kontan.co.id)