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主持人：Peter Lewis

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 every weekday morning 8 to 8:30 a.m. 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 moneytalk@rthk.hk, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .

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17/05/2022

Business and Market Discussion / View from Japan

China’s economy contracted sharply in April, as lockdowns, particularly in Shanghai, depressed business and manufacturing activity and prevented consumers from spending. Industrial output experienced only the second monthly contraction since 1990. Retail sales fell 11.1% y/y in April, the biggest fall since March 2020. In Shanghai, the citywide lockdown meant not a single car was sold last month. The unemployment rate in China’s 31 largest cities climbed to a new high of 6.7% in April. The jobless rate among those aged 16 to 24 hit a record 18.2%.

Meanwhile, the People’s Bank of China left the interest rate on one-year policy loans unchanged on Monday, despite expectations by a growing number of economists that Beijing would cut rates once more. The PBOC kept the rate on its one-year medium-term lending facility at 2.85%. It last cut the MLF rate in January.

Total new Covid cases in Shanghai fell to 938 on Sunday from 1,369 on Saturday, the first time the daily tally has been below 1,000 since March 23. Shanghai authorities announced on Monday that the financial and commercial hub will restart social activities and a full resumption will be conducted in phases from June 1 to late June, by which time the city aims to fully resume normal life.

Japanese producer prices rose at their fastest rate on record in April because of soaring raw material costs and a weaker yen. The Bank of Japan reported the Producer Price Index surged 10% from a year ago, exceeding economists’ forecasts of 9.4%.

The European Commission on Monday cut its growth forecast and raised its inflation outlook for both the eurozone and the EU overall, because of the impact of the war in Ukraine on the economy. The EU and eurozone are forecast to expand by 2.7% this year, much lower than the previous expectation of 4%. Inflation is expected to surge above 6% in both the EU and euro area this year, with some countries experiencing double-digit price rises.

On today’s Money Talk, we’re joined by James Wong at Lead Securities and Carlos Casanova of UBP. With a view from Japan is Tokyo-based journalist and author, William Pesek.

17/05/2022 - 足本 Full (HKT 08:03 - 08:35)

17/05/2022 - 8:10am Business and Market Discussion

James Wong, Managing Director and Chief Investment Officer at Lead Securities says that China’s infrastructure plans will have to wait for several months until companies can recover from the lockdowns.

Carlos Casanova, Senior Asia Economist at UBP suggests stimulus in China should focus on reviving demand.

17/05/2022 - 8:25am View from Japan

Tokyo-based journalist and author, William Pesek suggests that the Bank of Japan is experiencing the wrong type of inflation as commodity prices surge.

Tag: finance,inflation,japan,rates,stocks,business