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") .
UK Prime Minister Boris Johnson’s Brexit plans are in disarray after MPs backed an amendment to delay the latest Brexit deal negotiated with the EU by three months. The Prime Minister has now written an unsigned letter to the EU seeking a postponement, but he will bring in legislation today to try again to implement the deal he agreed with Brussels last week. He says he is confident he has the votes to ensure Britain leaves the EU on 31 October.
Economic growth in China in the third quarter slipped to a new record low of 6%. The economy was impacted by the US-China trade war, a slowdown in manufacturing and slowing domestic income growth.
The IMF has vowed to use “all appropriate tools” to combat weak global growth. The communiqué issued at the end of the IMF and the World Bank’s annual meetings in Washington over the weekend, urged leaders to bring an end to the damaging trade wars.
China’s top trade negotiator and vice premier Liu He said Saturday that trade talks with the US are making progress and both sides are working towards a partial phase one agreement.
On today’s Money Talk we’re joined by Alex Wong of Ample Capital and Dickie Wong from Kingston Securities. Providing the view from the mainland is Ben Cavender at the China Market Research Group.
21/10/2019 - 8:09 Business and Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, expects that the latest economic data from the mainland will not have a big impact on the stock market.
Dickie Wong, Head of Research at Kingston Securities, comments that this year's Policy Address will not help boost the slowing local economy or alleviate the ongoing social unrest.
21/10/2019 - 8:25 View From China
Several hundred local companies, businesses, shops and NGOs are expected to heed calls for a strike in Hong Kong today in protest at the government’s proposed extradition law. The Civil Human Rights Front, which organised Sunday’s march, is encouraging further protests and workers' unions, businesses and welfare groups have backed the citywide strike.
Taiwanese company Foxconn, the world’s largest electronics manufacturer and assembler of the iPhone said it can move production out of China at short notice if the trade war worsens. 25% of its total capacity is now outside of the mainland, and Liu Young-way, a member of the company’s top management committee, said the state of the global economy “looks bleaker and bleaker, and the situation is unpredictable.”
Stocks in China surged yesterday after Beijing unveiled further fiscal measures to boost the slowing economy. The State Council relaxed funding rules for infrastructure projects and will allow local governments to use the proceeds from special bonds for major infrastructure projects.
Joining us on today’s Money Talk are Stewart Aldcroft of CitiTrust, Rich Sega, from Conning and RTHK’s international economics correspondent, Barry Wood.
12/06/2019 - 8:09 Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, comments that in general in Hong Kong, strikes have not been that popular or had much impact.
Rich Sega, Global Chief Investment Strategist at Conning, expects the bigger impact of the extradition bill in the US will be the strengthening of public support in actions against China, and that it will be harder to make trade concessions in reaching a deal with China.
RTHK’s international economics correspondent Barry Wood says that President Trump thinks Xi Jinping needs a trade deal more than he does.