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") .
The draft Brexit agreement has led to political chaos in the UK with the British pound and London shares falling sharply. Several ministers have resigned, including the UK’s Brexit Secretary, who said the deal was “damaging for the economy and devastating for public trust in our democracy." Prime Minister Theresa May vowed to fight for the deal despite mounting calls for a no-confidence vote in parliament.
China’s cyber regulator will seek detailed logs of user activity and personal information from all technology companies and online service providers that could influence public opinion or spread social movements. That includes all the major tech companies on the mainland including Alibaba, Tencent and Baidu. The new rules will come into effect on November 30 and companies will have to provide to the internet regulator users’ real names, account numbers and hardware details, along with all their chat and call logs and online comments.
US stocks rallied overnight after an FT report that Donald Trump's chief trade negotiator Robert Lighthizer told business leaders the US was putting the next round of tariffs on Chinese imports on hold. However, the US Trade Representative's spokesperson has since denied that.
Joining today’s Money Talk are Francis Lun of GEO Securities and Michael Chang from Core Securities. On the phone from Sydney is Toby Lawson at Societe Generale Australia.
16/11/2018 - 8:08 Business and Market Discussions
Francis Lun, CEO of GEO Securities says that Tencent's core gaming business is not growing, so it can no longer be considered as a growth stock. Mr Lun adds that he would not buy Tencent until its PE (price to earnings ratio) is in the 20’s.
Michael Chang, Vice President of the Securities Dealing Department at Core Securities points out that if Hong Kong loses its separate customs area from China, it will be very damaging for businesses in the city.
16/11/2018 - 8:20 View from Australia
After the most divisive US midterm elections in recent history, the Democrats have retaken control of the House of Representatives giving them the ability to thwart Presidential Trump’s legislative agenda for the remainder of his first term. However, Republicans have increased their majority in the Senate. President Trump offered to work with Democrats on legislative priorities but threatened to retaliate if they launched investigations into him. US stocks rallied after the results but the dollar sold off.
The latest data from the mainland shows China’s foreign exchange reserves dropped by a bigger than expected US$34 billion in October. That was the worst monthly decline since late 2016.
The People's Bank of China has warned of high leverage and complex financing methods of financial holding companies, which refer to non-financial companies that take control of financial institutions. The PBOC said their expansion poses systemic risks and it will impose more stringent rules on five such companies including Alibaba’s Ant Financial, Tencent and JD.com.
Later today, the Fed will conclude its two-day monetary policy meeting and is widely expected to leave interest rates unchanged. Inflation expectations have been lowered by the sharp fall in the price of oil over the past month, easing pressure on the FOMC.
Joining today’s Money Talk to discuss the latest business and finance headlines are personal wealth advisor, Enzio von Pfeil and Nitin Dialdas from Mandarin Capital. Providing his analysis of the US midterm election results is Nick Wright, Partner and Campaigns Director, from Luntz Global.
08/11/2018 - 8:08 Business and Market Discussions
Personal Wealth Advisor Enzio von Pfeil expects that the excess supply of goods in the US will become pronounced in the second half of next year and the Fed is expected to continue the fiscal tightening.
Nitin Dialdas, Chief Investment Officer from Mandarin Capital says that the rally in US stocks after the midterm elections was because an uncertainty has been removed.
08/11/2018 - 8:20 US Mid-Term Election