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 annual Asia-Pacific Economic Cooperation summit failed to issue a joint communique for the first time in its history yesterday after Chinese President Xi Jinping and US Vice-President Mike Pence clashed at the meeting in Papua New Guinea. President Xi criticised Donald Trump’s America First policy and warned that any further escalation of tensions between the two countries will produce no winners. Mike Pence said that the US was prepared to more than double the tariffs imposed on Chinese goods and “will not change course until China changes its ways." He also criticised President Xi’s Belt and Road Initiative, describing it as “a constricting belt and a one-way road” which trapped poorer countries in a debt spiral.
Hong Kong’s economy slowed more than expected in the third quarter as the effects of the US-China trade war hit activity. GDP for the July to September period grew by 2.9% on an annualised basis. On Friday, the SAR government warned of “increasing downside risks” to the economy.
On today’s Money Talk we’re joined by Alex Wong at Ample Capital and Ian Hui, from JP Morgan Asset Management. Providing the view from the mainland is Yanan Wu, Chairman of Zhen Rong Bao in Beijing.
19/11/2018 - 8:08 Business and Market Discussions
Alex Wong, Director of Asset Management of Ample Capital says the Hong Kong property market will slow further next year, affecting consumer spending and GDP in 2019.
Ian Hui, Global Market Strategist from JP Morgan Asset Management believes that the economic slowdown in Hong Kong is mostly caused by a drop in private consumption and government spending. Mr Hui expects GDP growth to hover around 3%.
19/11/2018 - 8:20 View from China
Hong Kong’s Secretary for Commerce and Economic Development, Edward Yau, says the proposed new US tariffs on Chinese goods will hit Hong Kong hard with almost half the Chinese exports going to the US via Hong Kong being affected. He said that a second round of tariffs would affect about HK$130 billion worth of Chinese exports to the US via Hong Kong – about 2.2% of the city’s total exports.
The IMF has warned that the global expansion has plateaued and become less balanced because of rising trade tensions. The Fund says that Donald Trump’s imposition of tariffs on imports could knock almost 15% off global growth by 2020.
In the latest economic data, China’s economy softened a little in the second quarter but was still above the government’s target of around 6.5% growth. US consumer spending rose for the fifth month in a row last month.
Joining this morning’s panel discussion are Wendy Liu from Nomura and Jack Siu of Credit Suisse. Providing the view from Japan is Nick Smith from CLSA in Tokyo. After 8:30, we’ll explore the latest developments in robotics with Eden Lu and Mark Mak founders of Roborn Dynamics. In this week’s emerging markets segment we shall discuss Indonesia with Vasuki Shastry, Asia House Board Member & Author of "Resurgent Indonesia: From Crisis to Confidence".
17/07/2018 - 8:09 Business and Market Discussion
Wendy Liu, Head of China Equity Research & Chief Equity Strategist for Greater China at Nomura International, says the Mainland economy is doing well and the slowdown so far is minimal.
Jack Siu, Director & Senior Investment Strategist for Asia Pacific from Credit Suisse, is confident that the China government can maintain its GDP growth target, and he expects the growth rate will be 6.5% by the end of the year.
17/07/2018 - 8:25 View From Japan
17/07/2018 - 8:35 Tech Report : Robotics
17/07/2018 - 8:46 Emerging Markets Update : Indonesia