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") .
The Chief Executive of the Hong Kong Monetary Authority, Norman Chan, warned yesterday that the Hong Kong economy faces additional headwinds because of three months of protests and predicted that the territory’s economy contracted in the third quarter.
President Trump’s China Advisor, Michael Pillsbury, said the US is ready to escalate the trade war if a deal isn’t agreed soon. He said tariffs on Chinese goods could go to 50% or 100%.
The Bank of England has kept interest rates on hold at 0.75%, in its last meeting before the UK is due to leave the EU but signalled that prolonged Brexit uncertainty could hurt economic growth and keep interest rates lower for longer.
The Bank of Japan held overnight interest rates at minus 0.1% but has called for a review of the economy and inflation at its next meeting in October and expressed concern that inflation was moving further away from its 2% target.
Our guests on today’s Money Talk are Ronald Wan at Partners Financial Holdings and Iris Pang from ING Wholesale Banking. We’re also going to look at the latest news from Saudi Arabia and the outlook for the oil price with Vandana Hari, Founder of Vanda Insights.
20/09/2019 - 8:07 Business and Market Discussions
Ronald Wan, Non-Executive Chairman at Partners Financial Holdings, comments that although the Chinese government is trying to boost the economy, if the trade war does not improve in the near future, the economic bubble may burst.
Iris Pang, Greater China Economist from ING Wholesale Banking, says that the HKMA base rate cut will not be passed on to the local money market and banks, and therefore cannot help Hong Kong's economy.
20/09/2019 - 8:24 Latest on Oil
President Trump has delayed imposing tariffs on auto imports by up to six months. In January, the Commerce Department issued a report suggesting that President Donald Trump impose a tariff of 25% on imported cars, saying that the imports threaten US national security.
The US President has signed an executive order that would give the Commerce Secretary the power to review any transactions involving companies that are viewed as posing a security threat to national security. The effect would be to prohibit US companies from using any telecoms equipment manufactured by companies such as China’s Huawei and ZTE.
The latest data from the mainland shows China’s economy slowed sharply in April with industrial production, retail sales and fixed asset investment all badly missing forecasts. Retail sales saw their slowest growth since May 2003.
US retail sales fell unexpectedly in April by 0.2%, as consumers cut back on spending. US industrial production also unexpectedly fell by 0.5% in April, the weakest in two years. Industrial production has now fallen three out of the last four months.
Our guests on today’s Money Talk are Mark To from the Wing Fung Financial Group and John Schofield of Apastron Investment. Later in the programme, we’ll get some forecasts for the commodity markets with George Cheveley, Portfolio Manager and Metals & Mining Specialist at Investec Asset Management.
16/05/2019 - 8:08 Business and Market Discussions
Mark To, Managing Director of Asset Management at the Wing Fung Financial Group, is pessimistic about whether the Chinese government's stimulus programme can bring about a rebound in the mainland economy.
John Schofield, Executive Director of Apastron Investment, comments that the reason behind US President Trump's six-month delay in imposing tariffs on auto imports is to avoid having too many enemies on the trade front, so he can focus his efforts on the dispute with China.
16/05/2019 - 8:22 Investec Asset Management : George Cheveley