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. Treasury Secretary Steven Mnuchin said yesterday the U.S. is “putting the trade war on hold” with China and will delay the imposition of tariffs. A joint statement from the U.S. and China at the end of bilateral trade talks in Washington said that China had agreed to buy “significantly” more US goods and services in an effort to reduce the trade imbalances between the two countries.
Italy appears set to have a new government with Florence University law professor Giuseppe Conte chosen as the next Prime Minister. The latest development occurred after the two populist parties the 5-Star Movement and the far-right League reached an accord which promised to ramp up public spending, make billions of euros in tax cuts and to roll-back pension reforms introduced at the height of the 2011 debt crisis. Investors took fright at the proposals selling the countries shares and government bonds on Friday.
Elsewhere in the markets a toxic combination of rising interest rates, a surging oil price and a strengthening U.S. dollar have sent emerging market currencies into a tailspin, suffering their worst week in a year and a half.
Public consultations on a new minimum wage for Hong Kong, closed yesterday. The minimum wage is reviewed every two years and currently stands at HK$34.50. That compares to a national minimum wage in the United States of an equivalent HK$56.91 (US$7.25). Hong Kong’s unemployment rate hit a 20-year low of 2.8% in the 3-month period to April.
Joining today’s Money Talk are Steve Wang from CITIC CLSA and Sam Faveur of Mandarin Capital. Providing the view from the mainland is Ben Cavender, of the China Market Research Group in Shanghai.
21/05/2018 - 8:09 Business and Market Discussion
Steve Wang, Senior Credit Analyst at CITIC CLSA, comments that the US-China trade war is not over and there are still risks in resolving the trade tensions between the two countries. However, he adds that the joint statement is a good development.
Sam Faveur, CEO and Founder of Mandarin Capital, says that the economic and fiscal policies of the coalition government in Italy could lead to market disruption.
21/05/2018 - 8:24 View From China
US stocks have rebounded on Wall Street after President Donald Trump unveiled a $1.5 trillion infrastructure rebuilding plan. But the US budget for 2018/19 reveals that deficits will continue for at least another 20 years. Chinese stocks have also rallied after authorities urged funds to refrain from selling and ordered brokers to provide them with their trading plans for the week.
In Singapore, shares in exchange operator SGX tumbled over 7% after India’s main exchanges said they would no longer provide data to foreign bourses in order to prevent the growth of overseas listed derivatives on Indian benchmark indices, a major source of revenue for the SGX.
New loans made by Chinese banks hit a record high last month as the crackdown on shadow banking caused companies to turn to more traditional forms of lending.
This morning’s guests on Money Talk are Karine Hirn from East Capital and Ian Hui of JP Morgan Asset Management. Providing the view from Japan is Marcel Thieliant at Capital Economics.
13/02/2018 - 8:07 Business and Market Discussion
Talking about the US infrastructure spending plans, Karine Hirn, Partner at East Capital, comments that the Chinese government is spending far more and acting much quicker than the US authorities on infrastructure projects.
Ian Hui, Global Market Strategist from JP Morgan Asset Management, expects that after the US Congress has passed an infrastructure bill, the outcome will be very different from what President Trump originally announced.
13/02/2018 - 8:24 View from Japan
Marcel Thieliant, Senior Japan Economist at Capital Economics, expects that the Bank of Japan’s Governor Haruhiko Kuroda will likely be re-appointed for a second term, and Mr. Thieliant adds that the bank's Executive Director Masayoshi Amamiya will probably get one of the bank’s two Deputy Governor positions.