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 firstname.lastname@example.org, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
The death toll from the China coronavirus outbreak has risen to 106, and the number of people infected has jumped to close to 4,700. Most of the fatalities are in Wuhan and the surrounding province of Hubei, the outbreak’s epicentre.
Hong Kong Chief Executive Carrie Lam said that rail and ferry services to the mainland would be suspended from tomorrow and the number of flights would be halved. Several border checkpoints will be closed but the flow of goods will not be interrupted.
The Shanghai government and the Guangdong provincial authorities have ordered companies in their regions not to resume operations before February 9. The Shanghai and Shenzhen Stock Exchanges will delay the reopening of the A-share market until Monday.
The US Federal Reserve will wrap up its first monetary policy meeting of the year later today. President Trump tweeted that “the Fed should get smart and lower the rate to make our interest competitive with other countries which pay much lower.”
On today’s Money we’re joined by Khiem Do at Baring Asset Management, Will Denyer from Gavekal and on the phone from Washington D.C., RTHK’s International Economics Correspondent, Barry Wood.
29/01/2020 - 8.09am Business and Market Discussion
Khiem Do, Head of Greater China Investments at Baring Asset Management warns of a strong fall in economic activity in the retail and services sector, as citizens fear to go outside.
Will Denyer, US Economist at Gavekal says that the coronavirus' impact on the world economy remains minor for now but a worldwide spread of infections could see a stronger market reaction.
Barry Wood, RTHK's US Correspondent, observed that Tuesday's market rally reflects investors' optimism, as China's drastic containment measures boosts confidence.
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