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JPMorgan Chase lowered its price target for General Motors (GM.N) from $120 to $110.

JPMorgan Chase lowered its price target for Ford Motor (F.N) from $17 to $16.

Car sales in Indonesia rose 28.1% year-on-year in September.

Trita Passy, ​​executive vice president of the Quincy Institute for Governance, stated that while shipping through the Strait of Hormuz has rebounded, the United States cannot sustain the costs of keeping the strait open indefinitely. Passy pointed out that while the strait is indeed more open than before, a crucial question must be considered: what are the costs? He stated that the U.S. is currently expending significant resources escorting ships out of the Strait of Hormuz, and this practice is "fundamentally unsustainable" for the U.S. military in the long run. He also warned that the rebound in shipping volume does not mean the crisis is over. Passy stated that this does not indicate a plateau or pause in the war; the current situation is merely the "calm before the storm" before the midterm elections.

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.