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
US and European stocks have been hit by fresh turmoil. All three major US stock indices have slipped backed into the red for the year and government bond yields have hit multi-year highs. Volatility has surged higher once again.
The Bank of England has left interest rates on hold at half a percent but says rates could rise earlier and by a “somewhat greater extent” than previously thought.
The latest trade data from the mainland shows imports surged last month by over 30.2% y/y. That’s led to the Chinese trade surplus falling to an 11-month low.
Hong Kong’s Mandatory Provident Fund recorded the highest annualised return in 7 years in 2017 and also saw the biggest increase in assets since the Fund’s inception in 2000.
Hong Kong cash machine operator JETCO has become the latest vendor to offer cashless payments in the city.
Joining today’s programme are Francis Lun, CEO of GEO Securities and Alan Luk, from Hang Seng Private Bank. On the phone from Singapore is Geoff Howie, Market Strategist at the Singapore Exchange.
09/02/2018 - 8:08 Business and Market Discussion
Francis Lun, CEO of GEO Securities, is of the opinion that heavily indebted conglomerate HNA is on the verge of collapse, but he expects that it would only have a limited impact on the Hong Kong stock market since HNA has only two listed companies on the HKEx.
Alan Luk, Head of Private Banking and Trust Services at Hang Seng Bank, comments that the market volatility is due to fears of higher interest rates but he doesn’t think the bull market is over.
09/02/2018 - 8:25 View from Singapore