24,211Hang Seng Index · Oct. 9 close · +1.79% (closed Oct. 10 and 11)

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恒生指數24,211.00▲1.79%10/9USD/HKD—S&P 5007,811.54▲0.59%10/9WTI$91.85▲0.39%10/9Gold$4,216.30▲1.43%10/9
World · Middle EastPress ✓ 4 outlets · casualty figures are the Saudi authorities’ account and may change later

Houthi missile strike on Riyadh’s King Khalid airport: Saudi authorities say 12 dead, more than 300 injured

This is another attack on a Saudi airport within a week; the Saudi civil aviation authority earlier reported 3 dead, so please do not add the figures together.

Yemen’s Houthis hit King Khalid International Airport in Riyadh with a missile on October 10 (Saturday, Saudi time); according to Saudi authorities, 12 people died and more than 300 were injured (New York Times, Mirror, Financial Times). The Straits Times reported earlier that loud explosions were heard at the airport, passengers were evacuated and several airlines cancelled more flights (The Straits Times). The figure is far higher than the reports earlier this week: the Saudi civil aviation authority said on October 8 (Thursday) that the attack on Riyadh airport killed three Saudi citizens, including a Saudia pilot, and wounded several people of other nationalities, that a parked airliner was damaged, and that the airport later resumed operations (Al Jazeera, ITV/Associated Press); the October 7 report said the attacks on Abha and Riyadh airports together caused 3 deaths and 36 injuries (Al Jazeera).

The casualty figures may still change, and they should not be added to the earlier figures this week: the Saturday figure is the authorities’ account of a new attack, not a running total. The Houthis have claimed attacks on Saudi facilities many times before, and many of those claims were unconfirmed at the time (see the reports of October 5 and 8). For Hong Kong readers, passengers transiting through Riyadh should confirm their flights with the airline; in the markets, Hong Kong and US stocks are closed for the weekend, and the oil price reaction at Monday’s open is the focus.

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World · Middle EastPress ✓ 5 outlets · accounts conflict, not independently confirmed

Saudi ambassador to Yemen says Bab al-Mandab is cleared of Houthi remnants, Houthis deny it; Yemeni government announces large-scale ground offensive

The Guardian, Al-Monitor, Bernama, ynet and ARY News have reported in recent days: Saudi ambassador to Yemen Mohammed Al Jaber said on X that Bab al-Mandab has been cleared of Houthi remnants, without giving further details; Yemen’s information minister told Reuters that government forces have taken effective control of the strait but that fighting continues; Rashad al-Alimi, chairman of the Presidential Leadership Council, announced a large-scale ground offensive. Houthi spokesman Ameen Hayyan denied that government forces have made any progress, and the group earlier called the government’s claims “completely untrue.” Reports from the Taiz area contradict each other: the Houthis say they have taken a mountain road, while government sources deny the road has been cut. The reports say the campaign, which has escalated since July, is the largest fighting since the 2022 ceasefire. We could not confirm the exact dates of these statements.

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World · UkrainePress ✓ 3 outlets · death toll rises from 7 to 12; Ukrainian account puts it at 15

Russian strike on Zaporizhzhia: death toll rises from 7 to 12; Zelensky calls it a “thank-you” for eased diesel sanctions

Russian forces struck the Ukrainian city of Zaporizhzhia on October 10. Reuters first reported 7 dead, later reports raised that to 12, and CBC, citing the Ukrainian side, put it at 15, including 3 children (Reuters, The Straits Times, CBC). The attack came the day after Trump announced an easing of sanctions on Russian diesel. In a Telegram post, Zelensky wrote that Russia was “thanking” the US for easing diesel sanctions by dropping guided bombs on residential buildings in Zaporizhzhia; this is his own account, and the reports we have seen offer no evidence of a causal link between the attack and the diesel agreement.

On October 10 Trump also posted on Truth Social about the Nobel Peace Prize, claiming he has ended eight wars; this too is his own account and has not been independently verified. Figures for the US Treasury licence and the volume of Russian diesel differ between reports (see the October 10 report); until the terms and volumes are published, the agreement’s effect on oil prices is only an expectation.

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Society · CrimePress ✓ 2 outlets · figures announced by police, case pending in court

Police bust Sham Shui Po loan-shark ring and arrest 127; effective annual rate as high as 3,700 percent

After an undercover operation of about six months, police raided eight premises on October 8 and 9 and broke up a loan-sharking syndicate led by people of Vietnamese descent, arresting 127 people (The Standard, South China Morning Post). Police said the syndicate’s effective annual rate was as high as 3,700 percent, far above the statutory cap of 48 percent. Those arrested remain presumed innocent; the charges and the identities of the defendants will be as set out in court documents.

Separately, Police Commissioner Joe Chow said at a student ambassadors event that 2,144 young people were arrested for criminal offences in the first eight months of this year, up 23 percent year on year (The Standard; see “Inside”). Taken together, the two items show recent police action against both financial crime and youth crime, but details of each case depend on later announcements from police and the courts.

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Finance · Weekend previewMarket data · Hang Seng figure from The Standard; the S&P near a record high is another single source

Weekend preview: S&P 500 up 0.59 percent on Friday, gold up 1.43 percent; Hong Kong and US markets closed for the weekend, reopen Monday

US stocks closed higher on October 9 (Friday): the S&P 500 rose 0.59 percent to 7,811.54, near the record high set earlier on October 6; WTI crude futures rose 0.39 percent to $91.85; gold rose 1.43 percent to $4,216.3 (DailyDrop market data). The Hang Seng Index closed on Friday at 24,211, up 425 points from the previous day (The Standard).

Hong Kong and US exchanges are closed on October 10 and 11; the next trading day is October 12 (Monday), which is a US federal holiday: the bond market is closed, stocks trade as usual. The Riyadh airport attack, the casualties in Zaporizhzhia, the diesel agreement and the fighting in Yemen will all weigh on sentiment at Monday’s open. The New Huanggang Port also opens at 6:30 a.m. on Monday, with a ceremony on the Shenzhen side on Sunday; worth noting for those travelling on Monday.

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In brief
  • New Huanggang Port holds its opening ceremony on the Shenzhen side on Sunday and opens at 6:30 a.m. on MondayThe Standard
  • Sham Shui Po loan-shark ring busted, 127 arrestedThe Standard, South China Morning Post
  • Police bust prostitution ring, seize HK$13 millionSouth China Morning Post
  • Police plan international policing academy, expected to be set up on November 11South China Morning Post
  • Police commissioner: 2,144 young people arrested in first eight monthsThe Standard
  • Hang Seng Tech Index up 3% to 4,197 on FridayThe Standard
  • Tim Cook visits China for the first time since stepping downThe Standard
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Unverified — what we could not confirm

“The Riyadh airport attack has killed more than 15 people.” Adding the 3 deaths from earlier this week to Saturday’s 12 has no basis. The Saudi authorities’ account: the October 8 attack killed 3 Saudi citizens; the October 10 attack killed 12 and injured more than 300 (FT, NYT, Mirror). They are separate incidents.
“Bab al-Mandab has fallen completely into government hands.” The Saudi ambassador said Houthi remnants had been cleared, the information minister said effective control had been taken but fighting continues, and Houthi spokesman Ameen Hayyan denied it; there is no independent confirmation.
“Trump has ended eight wars.” This is Trump’s own claim on Truth Social; we have seen no independent source verifying it item by item, so until it is verified it can only be treated as his personal statement.

Influencer watch

  • Donald Trump, US President Truth Social · 10/10Trump posted that he settled eight wars, in a rant about not winning the Nobel Peace Prize.
  • Volodymyr Zelenskyy, President of Ukraine Telegram · 10/10Zelenskyy wrote that Russia 'thanked' the US for easing diesel sanctions by dropping guided bombs on homes in Zaporizhzhia.

Statements as posted, not fact-checked.

Glossary · dotted words — economics, law, security and science terms explained in the context of the story. The list grows every day.
INSIDEHouthi missile strike on Riyadh’s King Khalid airport: Saudi authorities say 12 dead, more than 300 injuredWorld · Middle EastSaudi ambassador to Yemen says Bab al-Mandab is cleared of Houthi remnants, Houthis deny it; Yemeni government announces large-scale ground offensiveWorld · Middle EastRussian strike on Zaporizhzhia: death toll rises from 7 to 12; Zelensky calls it a “thank-you” for eased diesel sanctionsWorld · UkrainePolice bust Sham Shui Po loan-shark ring and arrest 127; effective annual rate as high as 3,700 percentSociety · CrimeWeekend preview: S&P 500 up 0.59 percent on Friday, gold up 1.43 percent; Hong Kong and US markets closed for the weekend, reopen MondayFinance · Weekend preview