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") .
A series of geopolitical risks have rattled global markets. The deteriorating relationship between the US and China, the breakdown in Brexit talks, the disappearance of dissident Saudi journalist Jamal Khashoggi, the big losses by German Chancellor Angela Merkel's coalition partner the CSU in Bavarian elections, the impasse over Italy’s budget combined with warnings from the IMF/World Bank meetings on global growth have left investors rattled this morning. Chinese stocks have hit a four-year low, US stocks have endured a volatile session and gold has rallied.
In addition, debt is in focus. The latest US Treasury department data shows the US budget deficit this year has widened to the largest since 2012 after President Trump increased spending and cut taxes.
Former Federal Reserve chair Janet Yellen has criticised Donald Trump's recent attacks on the US central bank, calling them "damaging to financial stability".
16/10/2018 - 8:08 Business and Market Discussions
Connie Bolland of Economic Research Analysis comments that the world does not need another oil price rise, and that inflation will cause problems for emerging market countries.
Mandarin Capital's Sam Faveur believes that it is ludicrous to compare the decline in China A's share market this year with the US market in 1929 as Donald Trump has done.
16/10/2018 - 8:30-9:00 Paul Ryan and David Constello on Ireland Economy and Brexit
Paul Ryan, Head of the International Finance Division in the Irish Department of Finance points out that the Sino-US trade war is damaging the global economy and a no-deal Brexit will be disastrous for the future of UK and bad for Ireland.
David Costello, Irish Consul General to Hong Kong and Macau talks about the wider consequences of the Irish border problem and the Good Friday agreement
In the most significant liberalisation of China’s financial sector in a decade, mainland authorities will remove the foreign ownership limits on its banks and will allow international firms to take control of its securities firms, fund managers and insurers. Vice finance minister Zhu Guangyao said China would raise the ceiling on foreign ownership of securities, fund management and futures trading joint ventures from 49% to 51% allowing foreign companies to take control of their joint ventures.
Singles’ Day on the mainland has smashed previous records. More than $1billion of goods an hour were sold on Alibaba’s online shopping platforms and the company posted a 39% increase in sales compared to last year.
Meeting at the APEC summit in Vietnam over the weekend, 11 Pacific Rim countries have agreed to revive the Trans-Pacific Partnership without the US, which pulled out in January. That follows a robust speech from Donald Trump who said the US would no longer tolerate "chronic trade abuses". President Xi Jinping meanwhile spoke of irreversible globalisation.
Hong Kong’s economic growth more than halved in the 3 months to September from the previous quarter but on an annualized basis GDP growth is still a robust 3.6%.
In the markets, there’ll be more opportunity for IPO frenzy in Hong Kong this week following the successful debut of China Literature last week. Gaming hardware company Razer will begin trading on the Hong Kong Stock Exchange today. On Thursday, Chinese online car retailing platform, Yixin Group, in which Tencent has a stake, is due to start trading.
On today’s Money Talk, Rob Koepp from The Economist Corporate Network and Tariq Dennison, Portfolio Manager at GFM Asset Management will keep you up to date with all the latest developments. Brock Silvers, Managing Director at Kaiyuan Capital in Beijing provides the view from the Mainland. (8am-8.30am, email to email@example.com)
13/11/2017 - 8:09 Business and Market Headlines
Tariq Dennison, Portfolio Manager at GFM Asset Management, says foreign firms and large international banks have become more reluctant to enter into competition with the big Chinese banks compared to 15 years ago.
Rob Koepp from The Economist Corporate Network comments that the sales record by Alibaba on Singles’ Day is impressive and China is now exporting consumerism.
13/11/2017 - 8:23 View from China