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") .
The European Central Bank is to end its post-financial crisis stimulus programme that was supposed to boost the Eurozone economy. The ECB will halve its €30bn a month bond-buying scheme from September and phase it out completely at the end of the year. The ECB left interest rates on hold after its monetary policy meeting yesterday and said it will keep rates unchanged until at least the end of summer of 2019.
Rates are moving higher though here in Hong Kong. Bank funding costs have hit a new 10-year high after The Hong Kong Monetary Authority followed the Fed’s lead and raised its base rate by a quarter of one percent to 2.25%. One-month Hibor rose to 1.6% yesterday, its highest level since 2008.
The International Monetary Fund said yesterday that U.S. trade policy is likely to undermine the world’s trade system, lead to "losers on both sides" and could have a "serious" economic impact. The warning from IMF Managing Director Christine Lagarde comes as the U.S. prepares to levy new import tariffs on between 800 and 900 Chinese products worth up to $50bn, possibly as early as today.
The IMF has also issued a warning about the state of America’s public finances saying the $1.5tn tax-cutting package and spending boost, will drive the federal budget deficit to 4.5% of GDP by 2019, nearly double the level three years ago.
The latest economic data shows US retail sales jumping by the most in 6 months in May. However, data from the mainland has disappointed. Retail sales growth slowed to the lowest rate in 15 years and fixed-asset investment growth was the slowest since 1998.
In the markets the Euro has slumped after the ECB move and the US dollar surged against several emerging market currencies.
On this morning’s programme we’re joined by Francis Lun of GEO Securities and Alan Luk, from Hang Seng Private Banking. On the phone from Singapore we have Justin Kendrick at Ingenia Consultants.
15/06/2018 - 8:08 Business and Market Discussion
Francis Lun, CEO of GEO Securities, expects rising US interest rates to have a minimal impact on local stocks and forecasts a decline in the Hang Seng Index to 30,000 before rebounding.
Alan Luk, Head of Private Banking and Trust Services at Hang Seng Private Banking, says that the US-China trade dispute and deleveraging in China will hamper overall asset price performance on the mainland in the second half of this year.
15/06/2018 - 8:24 View From Singapore
Discussing the latest business headlines on today's Money Talk are Alex Wong, Director of Asset Management at Ample Capital, and Alicia Garcia Herrero, Chief Economist for Asia Pacific at NATIXIS.
12/03/2018 - 8:10 Business and Market Discussion
Alex Wong, Director of Asset Management at Ample Capital, points out that the Chinese bond market is under pressure over fears of an upcoming "trade war" and tax cuts, and advises investors to be selective in stocks.
Alicia Garcia Herrero, Chief Economist for Asia Pacific at NATIXIS, comments that the Chinese central government has to be careful to make the correct decisions as it gains more control over economic policies with the limits on President Xi's term of office being removed.