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 email@example.com, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkR3") .
US stocks have rallied after James Bullard, president of the St Louis Fed, warned that the Fed needed to be careful not to raise rates too fast this year to avoid slowing the economy too much. That sent shares on Wall Street soaring higher in early trade only for them to give up most of those gains by the close.
The minutes of the last European Central Bank meeting show policy makers in the Eurozone concerned about the strength of the euro and fearing that the Trump Administration was deliberately trying to engage in currency wars.
A top diplomat at the US Treasury said that the US must do more to confront China on trade. David Malpass, the Treasury's undersecretary for international affairs, accused Beijing of “patently non-market behaviour” and said that economic liberalisation on the mainland had gone into reverse.
China's tourism industry earned revenue of 475bn yuan ($75bn) during the Lunar New Year holiday, up 12.6% from the previous year. Chinese holidaymakers made 390 million passenger trips by rail during the week long holiday and spent $146 billion in retail sales and $850 million on movie tickets. 800 million Tencent users sent digital red envelopes and shared nearly 3 billion posts on line.
Joining today’s programme are Francis Lun of GEO Securities and Kenny Wen from Everbright Sun Hung Kai. Providing the view from Australia is Toby Lawson at Societe Generale in Sydney.
23/02/2018 - 8:08 Business and Market Discussion
Francis Lun, the CEO of GEO Securities, is of the view that the Hong Kong government should halve the local tax rate from 15% to 7.5% in this year's Budget.
Kenny Wen, Wealth Management Strategist at Everbright Sun Hung Kai, advises investors to prepare for another correction in stocks once the U.S.10-year treasury yield reaches 3%.
23/02/2018 - 8:23 View from Australia
Catalonia’s leader Carles Puigdemont says his people have chosen independence from Spain but he has suspended a formal declaration saying he wants to hold talks with the Madrid government. Spanish government bonds have stabilised and the euro has jumped higher on the news.
The IMF has revised upwards its forecast for global growth saying that the global economy is seeing its best upswing since 2010. But it warns of risks from low inflation, poor productivity growth and the rapid credit expansion in China.
Outgoing PBOC governor Zhou Xiaochuan has called for the urgent resumption of capital account reforms. Ahead of the 19th National Congress next week he said “no country can achieve an open economy with strict foreign exchange controls.” Those remarks have helped the renminbi to a 2-week high against the dollar.
In a new corporate scandal, Japan’s Kobe Steel has admitting to falsifying data on the strength and durability of aluminium and copper parts which are used in aircraft and automobiles. Shares in Kobe Steel have crashed on the Tokyo Stock Exchange.
On today’s Money Talk we are joined by Stewart Aldcroft of CitiTrust, Tariq Dennison from GFM Asset Management and on the phone from Washington D.C., RTHK’s international economics correspondent, Barry Wood. (8am-8.30am, email to firstname.lastname@example.org)
11/10/2017 - 8:08 Business and Market Discussion
Stewart Aldcroft, Chairman of CitiTrust Ltd says he expects China to further open up its capital account after the upcoming National Congress.
Tariq Dennison, Portfolio Manager at GFM Asset Management commenting on the Kobe Steel scandal, says Asian companies seem to be a lot more tolerant of the dishonest reporting of data, which renders Asian economies less efficient than their Western counterparts.
Barry Wood, RTHK’s International Economics Correspondent in Washington DC says the IMF’s World Economic Outlook highlights the strong uncertainty in the world despite signs of a global economic recovery.