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") .
Hong Kong's financial secretary Paul Chan has unveiled a HK$19 billion economic support package to help the territory’s sagging economy which has been beset by ten weeks of protests. The government cut its 2019 GDP growth forecast to 0%-1% from its previous forecast of 2%-3%.
China’s Ministry of Finance promised to take “necessary countermeasures” after President Trump's decision to impose 10% tariffs on an additional US$300bn worth of Chinese goods. China said the US had "seriously violated" agreements made between Mr Trump and Chinese Premier Xi Jinping at the G20 summit at Osaka in June. Later a spokesperson at China’s Ministry of Foreign Affairs said Beijing “hopes the U.S. will meet China halfway” on trade issues.
President Trump has urged President Xi Jinping to meet with protesters in Hong Kong who have been demanding democratic reforms. Mr Trump had previously suggested that he himself should meet Mr Xi to discuss the crisis in the city. He also tied the protests to a US trade deal with Beijing. He tweeted, "of course China wants to make a deal. Let them work humanely with Hong Kong first!"
Our guests today are Francis Lun of GEO Securities and Alan Luk from Hang Seng Private Banking. With the view from down under is Toby Lawson at Societe Generale Australia.
16/08/2019 - 8:08 Business & Market Discussions
Francis Lun, CEO of GEO Securities, comments that most people will be happy about the HK Financial Secretary's new economic support package, but since the supplementary budget does not solve the core problems in society, Mr. Lun expects protests to continue.
Alan Luk, Head of Private Banking and Trust Services at Hang Seng Private Banking, says that Hong Kong will enter a recession as companies are delaying their spending and capital investments.
16/08/2019 - 8:25 View from Australia
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