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") .
U.S. President Donald Trump has cancelled his meeting with North Korean leader Kim Jong Un, set for June 12 in Singapore. In a letter to the North Korean leader he said; "Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate, at this time, to have this long-planned meeting".
Investors have jumped into safe haven assets on the news. Gold, Treasury bonds and the Japanese yen all rose. Elsewhere in the markets the Turkish lira has tumbled again despite the central bank raising interest rates.
Donald Trump’s threat of tariffs on car imports into the US has sparked global condemnation. Critics say the move could disrupt supply chains and undermine the global trading system. Shares in large automakers in Europe, Japan and South Korea fell on the news.
This morning we have with us Francis Lun from GEO Securities and Dickie Wong of Kingston Securities. On the phone from Sydney providing the view from down under is Toby Lawson from Societe Generale Australia.
25/05/2018 - 8:08 Business and Market Discussion
Francis Lun, CEO of GEO Securities, does not believe North Korean leader Kim Jong-un really treasures a summit with President Trump.
Dickie Wong, Executive Director of Research at Kingston Securities, comments that the US economy is still healthy and he doesn’t foresee a sharp downturn in the dollar.
25/05/2018 - 8:24 View From Australia
40% in 40 hours. That’s how much Bitcoin has rallied in the last 2 days. The cryptocurrency first soared above $12,000, followed quickly by a breach of the $13,000 and $14,000 levels in Asian trading. The $1,000 incremental jumps continued in Europe and the US with the digital currency touching $19,000 on some coin exchanges . Since then it has fallen back sharply and is currently trading somewhere above $16,000. So many South Koreans are embracing the cryptocurrency that the country’s Prime Minister has warned, “if we let things continue, I feel some serious pathological phenomena could occur.”
In the more traditional markets, Asian equities stabilised yesterday following the previous day’s sharp losses. However the notable exception was Chinese shares which were once again in the red. The Australian dollar has fallen to a 2-week low after data showed the country’s trade surplus shrank in October, as exports slipped.
The IMF has warned about surging government debt on the mainland, particularly at the local government level. The multilateral institution urged the Beijing government to deemphasize high GDP targets and to focus on reining in excessive credit growth as some banks may not have enough capital to weather future losses.
On today’s Money Talk, Francis Lun, CEO of GEO Securities, reviews the latest business headlines. We also meet with Nicholas Bonner, founder of the Koryo Group, to talk about his 25 years of travelling to North Korea. Finally, providing this week's view from Australia is Toby Lawson, CEO of Societe Generale Securities in Sydney.
08/12/2017 - 8:07 Business and Market Discussion
08/12/2017 - 8:17 Nicholas Bonner - View from North Korea
08/12/2017 - 8:25 View from Australia