Welcome to a new week on Morning Brew. As the world is going football crazy, at 10.10 we kick off in true contrarian style with the latest from the Asian and local rugby scene, with HK Rugby boss Robbie McRobbie. This week the Hong Kong Phil embarks on an exciting series to celebrate the centenary of the birth of musical genius Leonard Bernstein. Today at 10.40 on MB we meet the maestro's youngest daughter Nina Bernstein, for a little glimpse of her experiences on one of the greatest musical rides ever. At 11.40 adventurer Paul Niel returns to MB after an amazing expedition hunting dinosaurs in the Mongolian Gobi. At 12.10 it's all about the best in local music, as Keith Goodman will be with us to invite you to H2, the 9th summer music festival at The Wanch.
On Monday's Backchat, LGBT books in our libraries. Ten children books featuring same sex theme have been removed for the public libraries after campaign by anti-rights group. LCSD acknowledged that these books did not advocate homosexuality, but the removal from the shelf was a response "based on concerns by various readers". What do you think of the controversies? Should these children books be removed from public libraries? Is the removal of books considered as 'censorship'? Or should these books be read with parental guidance? How should children be taught with family values and homosexuality? Leave us a message, or email us at firstname.lastname@example.org, or call us on 23388266. After 9.20, banning the use of mobile phones during jury trials.
All eyes are on Chinese assets on Monday morning after the PBOC dropped the required reserve ratio for some banks by 0.5%, effective July 5, unlocking about 700 billion yuan ($108 billion) of liquidity. Whilst the trade dispute with the US wasn't cited as a reason for the cut, it's significant that the next phase of US tariffs on $34bn of Chinese exports are due to be implemented the following day on July 6. Over the weekend President Trump said "You will see things happen over the coming months that are going to really shock you. Because for so many years we felt so badly, our jobs have been taken, our companies have been taken like we are a bunch of babies...Those days are gone. They're gone!" Some of the additional steps alluded to appear to include new curbs on Chinese investment in the US. The US Treasury Department is reportedly drafting rules that would block firms with at least 25% Chinese ownership from buying companies involved in “industrially significant technology.” The impact of the trade war appears to be spreading and hitting corporate profitability. Last week German automaker Daimler reduced its profit forecast for the year because of the impact of tariffs.
The Shanghai Composite index opened 0.4% higher on Monday morning at 2,903 and the Chinext 0.9% higher. The Hang Seng Index opened unchanged at 29,326. Last week, the Shanghai Composite slumped below 3,000 for the first time since the summer of 2016, wiping out over half a trillion dollars in market capitalization. There could be a knock-on effect as about $1 trillion of stocks listed on the mainland are pledged as collateral for loans. Stock prices are close to levels that could trigger margin calls.
In the currency markets, the yuan was fixed at a more than 5-month low following the RRR cut. The other emerging market currency in focus was the Turkish lira which climbed over 2% in Asian trading after President Erdogan secured re-election and looks set to assume sweeping new powers.
In the commodities markets, Saudi Arabia and Russia cemented their hold over OPEC and signalled a supply boost is coming to global markets of about 1 million barrels a day. Russia isn't a member of OPEC but for the last two years it has led a group of countries lending support to the cartel, creating a coalition of 24 producers that’s been dubbed OPEC+. Brent crude oil slumped more than 2% in early Asian trading to below $74 a barrel following the OPEC+ deal.
Joining Tuesday’s Money Talk to provide their analysis of the latest business, trade and financial market developments are Connie Bolland, Founder & Chief Economist at Economic Research Analysis and David Roche, President and Global Strategist from Independent Strategy. Providing the view from Japan this week is Naoyuki Yoshino, Dean of the Asian Development Bank Institute and Chief Adviser to the Financial Services Agency. (Every weekday 8:00-8:30 a.m. ; Email us at email@example.com, or post on our Facebook page Money Talk on RTHK Radio 3 or on Twitter MoneytalkR3)
On this week’s Hong Kong Heritage, Part 4 of a special series highlighting the early decades of broadcasting in Hong Kong to mark the 90th anniversary of RTHK, we head into the 1960s. Annemarie Evans hears about Uncle Ray Cordeiro meeting the Beatles three times in one week in 1964, and their trip to Hong Kong minus Ringo. There’s the building of Shek Kip Reservoir, coverage of the aftermath of Typhoon Wanda, singer Matt Munro on RTHK’s Operation Santa Claus and magician Harry Wong talks about his TV entertainer dad.
The end of the Second World War ushered in a long period of ideological confrontation between the former Soviet Union and the West. With global tensions again on the rise, we'll be tracing the history of this decades-long struggle for supremacy, marked by espionage, proxy wars and the ever-present fear of nuclear missiles. Cold War - Stories From the Big Freeze features the voices of those who lived through this dramatic period. This 15-part BBC series begins on Sunday evening at 6.45 on Radio 3.
From 1st June until 29th June 2018, Operation Santa Claus is accepting funding proposals!
Please submit your application along with a funding proposal and supporting documents online before 5.00pm on 29th June 2018 (Friday). Late submissions will not be considered.
Please read the Application Guidelines for details.
For enquiries, please call 2680 8159 or email to firstname.lastname@example.org. Application results will be announced in early September 2018
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