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") .
UK Prime Minister Theresa May is writing to the EU to ask for Brexit to be postponed until 30 June or longer. The cabinet couldn’t agree on how long the delay should be for, but one ministerial source said it could be up to two years. EU Brexit negotiator Michel Barnier said the EU wouldn’t grant the request without a "concrete plan" from the UK about what they would do with it.
US officials are reportedly concerned that Chinese negotiators are pushing back against American demands in trade talks. Bloomberg said the Chinese have become less accommodative because they haven’t received assurances from the Trump administration that tariffs imposed on their exports will be lifted. However, the Wall Street Journal struck a more optimistic tone reporting that talks are in their final stages and Robert Lighthizer and Steven Mnuchin plan to fly to Beijing next week, to meet with Chinese Vice Premier Liu He.
Joining today’s Money Talk are Stewart Aldcroft of CitiTrust, Steve Wang from CITIC CLSA and Barry Wood, RTHK’s International Economics Correspondent in Washington D.C.
20/03/2019 - 8:08 Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, says that the Fed is determined to raise rates, and it will be good for the markets if rates are increased marginally.
Steve Wang, Senior Credit Analyst from CITIC CLSA, however, comments that the market is expecting a rate cut by the end of 2019. Mr. Wang adds that the Fed should come up with a better action plan and do something new in tackling inflation.
RTHK’s International Economics Correspondent Barry Wood says that the enforcement of any trade deal arising from the negotiations with China will be critical to the US side.
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