Peter Lewis: A fast moving and topical business and finance show.
A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live from 8 a.m. to 8.30 a.m. every weekday morning on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at firstname.lastname@example.org, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkR3") .
China has agreed to cut tariffs on auto imports from the US from 40% to 15% according to sources familiar with the matter. Reports say the offer was made in a telephone call between Chinese vice-premier Liu He and the US treasury secretary and trade representative. UK Prime Minister Theresa May appears to be set for a leadership challenge over her Brexit plans. According to the BBC, the chairman of the 1922 backbench committee of ruling conservative party MPs has requested a meeting with the Prime Minister later today, triggering speculation that he has received the required 48 letters needed to trigger a vote of no confidence in the Prime Minister. In a tense meeting between President Trump and Democratic leaders at the White House, Mr. Trump says he would be "proud" to shut down the US government, if he didn’t receive funding for a border wall with Mexico. Lawmakers need to agree on a spending bill by December 21 to avoid a partial shutdown of the federal government. The argument in front of TV cameras, overshadowed the positive news on trade and sent US stocks plunging from their highs of the day. Joining today’s Money Talk are Peter Churchouse of Portwood Capital, Jack Siu from Credit Suisse and on the phone from Washington D.C., RTHK’s International Economics Correspondent, Barry Wood.
12/12/2018 - 8:08 Business and Market Discussions
Peter Churchouse, Founder of Portwood Capital says that the Hong Kong property market has fallen 3-4% since August and he foresees further downside risk in the residential market in 2019 but not a crisis.
Jack Siu, Director and Senior Investment Strategist for Asia Pacific at Credit Suisse does not see the Hang Seng Index falling below 24,000 over the next 3 months. He suggests that the best investment strategy is to average in after the recent equity market correction, as the downside risk is substantially lower.
RTHK’s International Economics Correspondent Barry Wood thinks that the US market is at the beginning of a bear market, with volatility depending on the US-China negotiations.