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
The US Supreme Court has made a landmark ruling that could allow states across the country to legalise sports betting. Shares in gambling companies in the US and UK have surged on the news.
In the markets, the Dow is on its longest winning streak in 8 months, US 10-year treasury yields hit 3% once again and the dollar and oil price have both risen. There has been more volatility in emerging markets with currencies, bonds and stocks showing sharp price swings. MSCI has released the list of 234 Chinese A-shares that will be added to its emerging market index from June.
The news that President Donald Trump has done a U-turn at the request of President Xi Jinping and will try to help save the business operations of Chinese telecoms giant ZTE, has attracted criticism from both Republicans and Democrats in Congress. But China’s foreign ministry has praised the decision and says vice-premier Liu He will travel to Washington later today to continue trade discussions.
With us today are Connie Bolland of Economic Research Analysis and Rob Koepp from The Economist Corporate Network. We also get our weekly update from Japan. Joining us today on the line from Tokyo is journalist & author, William Pesek.
15/05/2018 - 8:08 Business and Market Discussion
Connie Bolland, Founder & Chief Economist of Economic Research Analysis, comments that US President Trump's reversal on Chinese telecoms company ZTE has indicated that some agreement has been reached between President’s Xi and Trump ahead of Chinese Vice-Premier Liu He's visit to Washington, and that China will likely bring a large shopping list to the trade talks with the US.
Rob Koepp, Director from The Economist Corporate Network, is hopeful that the new Malaysian coalition will have a positive impact on Malaysia’s stock market and investment in the country.
15/05/2018 - 8:25 View From Japan