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 every weekday morning (Mon - Thu 8 to 9 a.m.; Fri 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 firstname.lastname@example.org, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
China’s State Council said on Friday it would impose new tariffs ranging from 5% to 10% on US$75bn of US products. Beijing also said a 25% tariff will be imposed on US cars and a 5% levy on auto parts and components from December 15.
President Trump reacted furiously and, in a tweet, ordered American companies to pull out of China. He said tariffs on $250 billion of Chinese imports will be raised to 30% from 25% from October 1. Other Chinese imports that were set to have 10% tariffs from September 1 will now have 15% tariffs. China said on Saturday it would continue fighting the trade war with the USA “until the end”.
President Trump also lashed out at Federal Reserve Chairman Jerome Powell after his speech at the Jackson Hole gathering of central bankers failed to give a clear commitment to further rate cuts. He tweeted, “as usual, the Fed did NOTHING! My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” Mr. Powell gave his strongest warning yet of the damage the trade war was doing to the global economic outlook. He said the US central bank didn’t have adequate tools to counter the rising business and investor anxieties arising from the dispute.
On today’s Money Talk are Alex Wong at Ample Capital and Anthony Chan from Union Bancaire Privée. Providing the view from the mainland is Brock Silvers at Kaiyuan Capital. After 8:30, we discuss AI in China with Nina Xiang of the China Money Network. Also joining us is Alicia Garcia-Herrero from NATIXIS to talk about the risk of capital flight from Hong Kong as a result of the protests.
26/08/2019 - 8:09 Business and Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, says that investors are retreating from Hong Kong stocks, and with the escalation of the US-China trade dispute, people will start pulling back from China A-shares as well.
Anthony Chan, Chief Asia Investment Strategist from Union Bancaire Privée, says that the escalation of trade tensions could lead to damaging non-tariff measures such as preventing companies from operating and it will also hurt China's global financing power.
26/08/2019 - 8:24 View from China
26/08/2019 - 8:34 AI in China
26/08/2019 - 8:47 Capital Flight from HK & PEG Ratio
Chinese markets have reopened after the lunar new year holiday in buoyant mood. The CSI 300 index of blue-chip stocks hit a four-month high and is up almost 10% so far in 2019. Investors poured a record US$9bn into Chinese equities in January, the largest monthly inflow on record.
The US and China have resumed trade talks in Beijing. Lower level officials have started discussions before Vice Premier Liu He meets US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday and Friday.
Joining today’s Money Talk are Mark Michelson of the Asia CEO Forum and William Ma from Noah Holdings. Our view from Japan this week is provided by Naoyuki Yoshino of the Asian Development Bank Institute.
12/02/2019 - 8:07 Business and Market Discussions
Mark Michelson, Chairman of the Asia CEO Forum at IMA Asia, says that the Chinese domestic economy has a major effect on exports from Asia, which in turn drives growth across Asian economies.
William Ma, Chief Investment Officer at Noah Holdings, expects the positive sentiment in mainland equities to continue, and he is witnessing trading flows from US to China.
12/02/2019 - 8:24 View from Japan