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") .
Dialogue between the US and China has broken down with further tariffs on US$200bn of Chinese goods and US$60bn of US products come into effect today. Beijing authorities have called off planned visits by Chinese officials to Washington for trade talks. On Friday, Beijing summoned the US Ambassador to China, Terry Branstad, to protest at sanctions imposed by the US on an arm of the Chinese defence ministry for buying military jets and missiles from Russia. It has also postponed Sino-US military talks planned to take place in Beijing this week.
In the markets, the Hong Kong dollar jumped by the most in 15 years and HKD Hibor rates surged across the board after HKMA chief executive Noman Chan said Hong Kong is set to follow a likely interest rate hike by the US Fed this week. Mainland stocks have seen their best weekly gain in over 2 years with weekly fund flows turning positive for the first time in 6 months.
The HK$84.4 billion Guangzhou-Shenzhen-Hong Kong Express Rail Link yesterday took its first passengers from Hong Kong over the border. The journey time to Guangzhou South takes just 48 minutes
UK Prime Minister Theresa May has warned that the Brexit negotiations are at an impasse and there will be no progress until the EU treats her proposals seriously. On Friday, she accused EU leaders of showing the UK a lack of respect after they rejected her so-called Chequers plan for Brexit without, she said, any alternative or explanation.
On today’s Money Talk are Alex Wong of Ample Capital and Independent Analyst Andrew Sullivan. On the phone from Beijing is Brock Silvers from Kaiyuan Capital.
24/09/2018 - 8:09 Business and Market Discussion
Alex Wong, Director of Asset Management at Ample Capital, says that markets are taking the rise in US treasury bond yields very calmly, and switching from growth to value stocks, but the risks of a correction are high.
Independent Analyst Andrew Sullivan points out that the "Team China" is supporting the Chinese A-share market.
24/09/2018 - 8:24 View from China
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.