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 email@example.com, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkR3") .
The White House has reported this morning that President Trump will sign a spending bill to keep the government open but at the same time will declare a national emergency to bypass Congress and build a border wall.
US retail sales showed a surprise fall of 1.2% in December, the worst drop in 9 years. The data adds to evidence that the US economy is slowing with the consumer no longer enjoying tax cuts and facing higher oil prices.
China’s trade data in January has come in much stronger than expected. But trade with the US has fallen sharply as the effects of the trade war take hold. Bloomberg is reporting that President Trump is considering pushing back the deadline for the imposition of higher tariffs on Chinese goods by 60 days, to give negotiations more time to continue. The news agency is also reporting that trade negotiators for the US and China have made little progress in talks in Beijing with the two sides deadlocked over structural reforms to the Chinese economy demanded by the US.
Our expert analysis this morning is provided by Francis Lun of GEO Securities and Pete Sweeney at Reuters Breakingviews. Providing the view from down under is Toby Lawson from Societe Generale Australia.
15/02/2019 - 8:08 Business and Market Discussions
Francis Lun, CEO of GEO Securities, comments that the local stock market is not as deep as it used to be, and so turnover did not soar as expected after the listing of tech giants such as Xiaomi.
Pete Sweeney, Asia Editor at Reuters Breakingviews, says that he feels suspicious about the rise in Chinese exports, while exports from Taiwan, South Korea and Hong Kong did not increase.
15/02/2019 - 8:25 View from Australia
The U.S. has released a list of further Chinese products to be hit by a proposed set of new tariffs including robotics, information and communication technology and aerospace. The Chinese Ambassador to Washington has said that China will respond in equal measure to any further tariffs on its exports to the U.S.
Shares of music-streaming company Spotify have begun trading on the New York Stock Exchange, giving the company a valuation of $26.5 billion. The company went public through a non-traditional route known as a direct listing and didn’t raise any new capital.
John Williams, the President of the Federal Reserve Bank of San Francisco, has been appointed to head the New York Fed. He will succeed Bill Dudley in what is seen as the second-most influential position at the US Federal Reserve.
The 481 funds in Hong Kong’s Mandatory Provident Fund scheme lost an average 1.85% in value in March, extending February’s losses and wiping out their gains for the year. The average loss across the MPF scheme for the first quarter stands at 0.26%.
U.S. shares have stabilised overnight following Monday’s sharp sell off in tech stocks. All 5 FAANG stocks rose overnight.
Joining today’s Money Talk are Stewart Aldcroft of CitiTrust, Le Xia from BBVA Research and on the phone from Washington D.C., our international economics correspondent Barry Wood.
04/04/2018 - 8:08 Business and Market Discussion
Stewart Aldcroft, Chairman of CitiTrust, attributes the success of Chinese exports to the pricing of the products and their improved quality. Mr. Aldcroft adds that Chinese countermeasures to US tariffs are highly political and will lead to global inflation.
Le Xia, Asian Chief Economist at BBVA Research, says that a US-China trade war will severely hit Hong Kong's re-export of goods from China to the US and other countries.
RTHK’s Washington D.C. based international economics correspondent Barry Wood comments that President Trump is not looking for a trade war between the US and China, but wants negotiations with China in the coming months that will end with action from China to reduce the trade surplus.