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
US stocks have rebounded on Wall Street after President Donald Trump unveiled a $1.5 trillion infrastructure rebuilding plan. But the US budget for 2018/19 reveals that deficits will continue for at least another 20 years. Chinese stocks have also rallied after authorities urged funds to refrain from selling and ordered brokers to provide them with their trading plans for the week.
In Singapore, shares in exchange operator SGX tumbled over 7% after India’s main exchanges said they would no longer provide data to foreign bourses in order to prevent the growth of overseas listed derivatives on Indian benchmark indices, a major source of revenue for the SGX.
New loans made by Chinese banks hit a record high last month as the crackdown on shadow banking caused companies to turn to more traditional forms of lending.
This morning’s guests on Money Talk are Karine Hirn from East Capital and Ian Hui of JP Morgan Asset Management. Providing the view from Japan is Marcel Thieliant at Capital Economics.
13/02/2018 - 8:07 Business and Market Discussion
Talking about the US infrastructure spending plans, Karine Hirn, Partner at East Capital, comments that the Chinese government is spending far more and acting much quicker than the US authorities on infrastructure projects.
Ian Hui, Global Market Strategist from JP Morgan Asset Management, expects that after the US Congress has passed an infrastructure bill, the outcome will be very different from what President Trump originally announced.
13/02/2018 - 8:24 View from Japan
Marcel Thieliant, Senior Japan Economist at Capital Economics, expects that the Bank of Japan’s Governor Haruhiko Kuroda will likely be re-appointed for a second term, and Mr. Thieliant adds that the bank's Executive Director Masayoshi Amamiya will probably get one of the bank’s two Deputy Governor positions.