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") .
Dialogue between the US and China has broken down with further tariffs on US$200bn of Chinese goods and US$60bn of US products come into effect today. Beijing authorities have called off planned visits by Chinese officials to Washington for trade talks. On Friday, Beijing summoned the US Ambassador to China, Terry Branstad, to protest at sanctions imposed by the US on an arm of the Chinese defence ministry for buying military jets and missiles from Russia. It has also postponed Sino-US military talks planned to take place in Beijing this week.
In the markets, the Hong Kong dollar jumped by the most in 15 years and HKD Hibor rates surged across the board after HKMA chief executive Noman Chan said Hong Kong is set to follow a likely interest rate hike by the US Fed this week. Mainland stocks have seen their best weekly gain in over 2 years with weekly fund flows turning positive for the first time in 6 months.
The HK$84.4 billion Guangzhou-Shenzhen-Hong Kong Express Rail Link yesterday took its first passengers from Hong Kong over the border. The journey time to Guangzhou South takes just 48 minutes
UK Prime Minister Theresa May has warned that the Brexit negotiations are at an impasse and there will be no progress until the EU treats her proposals seriously. On Friday, she accused EU leaders of showing the UK a lack of respect after they rejected her so-called Chequers plan for Brexit without, she said, any alternative or explanation.
On today’s Money Talk are Alex Wong of Ample Capital and Independent Analyst Andrew Sullivan. On the phone from Beijing is Brock Silvers from Kaiyuan Capital.
24/09/2018 - 8:09 Business and Market Discussion
Alex Wong, Director of Asset Management at Ample Capital, says that markets are taking the rise in US treasury bond yields very calmly, and switching from growth to value stocks, but the risks of a correction are high.
Independent Analyst Andrew Sullivan points out that the "Team China" is supporting the Chinese A-share market.
24/09/2018 - 8:24 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