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") .
Hong Kong’s economic growth has halved in the fourth quarter. Writing on his blog yesterday, Financial Secretary Paul Chan said GDP was "less than 1.5%," well below the growth rate of 2.9% seen in the third quarter. He blamed the US-China trade war for the slowdown.
Trade talks between the US and China ended last week in Beijing without a deal but will continue this week in Washington, with both sides saying last week's negotiations made good progress. However, sources close to the negotiations say the two sides remain far apart on structural changes demanded by the US with Beijing offering only “cosmetic, non-impactful offers” on issues crucial to the US.
Chinese banks extended a record amount of new loans in January. Total social financing, a broad measure of credit in the economy, almost tripled in January from December’s level, increasing aggregate financing to 220% of China's GDP.
On today’s Money Talk are Alex Wong of Ample Capital and Mark To from Wing Fung Financial. Providing the view from the mainland is Brock Silvers of Kaiyuan Capital.
18/02/2019 - 8:08 Business and Market Discussions
Despite the slowdown in Hong Kong’s economic growth, Alex Wong, Director of Asset Management at Ample Capital, says that he is not bearish on the Hong Kong market, and he expects investors will wait for some positive news out of the US-China trade talks before making any further investment.
Talking about the Hong Kong budget next week, Mark To, Managing Director of Asset Management from Wing Fung Financial Group, comments that Financial Secretary Paul Chan cannot do much to shield Hong Kong from the impact of the trade war, since the local economy is highly sensitive to the global environment.
18/02/2019 - 8:26 View from China
The wild swings in global stocks has continued for a fourth day with shares on Wall Street oscillating between losses and gains. US government bond yields have also jumped higher and are now almost back to where they were before the latest sell-off in shares began.
China has responded to the US Trump administration’s slapping of tariffs on imports of solar panels and washing machines by filing a complaint with the World Trade Organisation. China says the tariffs are not consistent with international trade rules.
US Senate leaders have reached a bipartisan budget deal that will keep the government funded for two years. It also significantly increases military and domestic spending by around $300 billion. However, the measure could face resistance in the House of Representatives.
German Chancellor Angela Merkel's conservatives and the Social Democrats have agreed in principle on a coalition deal. Germany has been unable to cobble a government together for four months, the longest period without a government since the second world war. The latest agreement seems likely to break the deadlock and lead to the formation of a new government by Easter.
On today’s programme, our regular Thursday guest, Enzio von Pfeil is joined by Steve Wang from CITIC CLSA. On the phone from Taipei is Maurice Lu of Sinopac Futures in Taiwan.
08/02/2018 - 8:08 Business and Market Discussion
Enzio von Pfeil comments that when he looks at his indicators, they show that the global “Economic Time” peaked last October and has been waning a little since then.
Steve Wang, Senior Credit Analyst at CITIC CLSA, says that the way for Chinese companies to counteract the impact of tariffs by the US, is to produce better products that can compete with American goods.
08/02/2018 - 8:24 View from Taiwan