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 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 email@example.com, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
US jobless claims surged last week as the coronavirus pandemic shut businesses across America. The number of people filing for unemployment benefits jumped by a record breaking 3.3 million people from 282,000 the previous week.
Singapore's GDP growth tumbled by an annualised 10.6% in the first quarter of 2020 from the previous quarter, the sharpest drop in more than a decade. The city state downgraded its 2020 GDP growth forecast to between minus 4% and minus 1%.
Singapore has tapped into its reserves for only the second time in history and announced a massive S$48 billion (US$33.7 billion) stimulus plan to combat the economic impact of the Covid-19 pandemic. Combined with the measures announced in the budget it brings the total fiscal boost to S$55 billion, or 11% of GDP.
Hong Kong’s Census and Statistics Department reported yesterday exports from the territory slumped 12% in the first two months of the year. Imports fell by 9.3% leaving a trade deficit of HK$69.1 billion in the two-month period.
Joining us on today’s Money Talk are Francis Lun of GEO Securities and Kenny Wen from Everbright Sun Hung Kai. With the view from Australia is Toby Lawson at Societe Generale Australia.
27/03/2020 - 8:08am Business and Market Discussion
Francis Lun, CEO of GEO Securities says that both Hong Kong and Mainland China should expect further economic contraction with as much as negative 10% growth, quarter-on-quarter.
Kenny Wen, Wealth Management Strategist at Everbright Sun Hung Kai highlights that the world economy is more likely to see a U-shaped recovery, as he forecasts a lengthy process of returning to normalcy.
The World Trade Organization has warned of a global trade slow down. WTO economists said yesterday that global trade grew by 3% in 2018 and would slow to 2.6% this year. Credit ratings agency Moody’s warned that a global recession is “highly likely” if there was no trade deal in the next few months.
UK Prime Minister Theresa May will ask the EU for an extension to the April 11 Brexit deadline. Meanwhile, she said she will work with opposition parties to agree a plan on the future relationship with the EU.
On today’s Money Talk, casting their analytical eye over the day’s top business stories are Stewart Aldcroft of CitiTrust, Peter Churchouse from Portwood Capital and RTHK’s International Economics Correspondent, Barry Wood.
03/04/2019 - 8:09 Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, comments that the WTO is trying to encourage the US and China to reach a trade agreement at this crucial point when both nations seem to be close to a deal.
Peter Churchouse, Founder of Portwood Capital, says that the risk of a recession in the US has doubled based on signals from the bond market and he warns investors not to be too bullish on the global economy.
RTHK’s International Economics Correspondent Barry Wood says that he does not see a dramatically slowing US economy but a steady one with a slower pace of growth.