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 from 8 a.m. to 8.30 a.m. every weekday morning 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 New York Federal Reserve President John Williams said the central bank needed to “act quickly” when the economy was slowing and rates were low. He said in a speech that “it’s better to take preventative measures than to wait for disaster to unfold”. Later, Fed vice-chair Richard Clarida said in an interview with Fox Business Network that policymakers should lower rates early to combat rising economic risks. After those comments, expectations of a 50bps rate cut this month surged sending US stocks and gold higher and the US dollar and Treasury bond yields lower.
President Trump said a US Navy ship shot down an Iranian drone in the Strait of Hormuz, after Iranian forces said they had seized a foreign tanker, in the latest in a series of incidents that have heightened tensions in the Persian Gulf region.
The European Commission is imposing a €242 million fine on US chipmaker Qualcomm, its second penalty on the chip maker in 18 months, for "abusing its market dominance" in 3G baseband chipsets by charging prices below cost to force competitors out of the market. It’s the latest move by the EU targeting top US tech companies for breaching antitrust rules.
The EU's chief Brexit negotiator Michel Barnier said the UK will have to "face the consequences" if it opts to leave without a deal. He told the BBC that the thrice-rejected agreement negotiated by Theresa May was the "only way to leave the EU in an orderly manner".
The Bank of Korea has unexpectedly cut its policy interest rate for the first time in three years. The BoK reduced its benchmark interest rate by 25bps to 1.5%.On today’s Money Talk, Francis Lun of GEO Securities and Dickie Wong at Kingston Securities review the latest business headlines. After 8:30, we’re going to discuss health and fitness. Local entrepreneur Keith Rumjahn, Founder & CEO of OliveX tells us how he’s combined sport and AI, and how his fitness mirror helps rehabilitate hospital patients. Edward Chan, Occupational Therapist at Queen Mary Hospital joins us to explain more. Finally, we look at some of the latest developments in the health insurance market with Julien Mathieu, Co-founder of AD MediLink.
19/07/2019 - 8:00-8:30 Market Discussion
Francis Lun, CEO of GEO Securities comments that the political turmoil in Hong Kong since June has impacted retail and tourism, but so far the property sector did not suffer any decline.
Dickie Wong, Head of Research at Kingston Securities says that the cancellation of the Budweiser IPO, has put downward pressure on the Hong Kong stock market.
19/07/2019 - Entrepreneur: OliveX
Local entrepreneur Keith Rumjahn, Founder & CEO of OliveX talks about the interactive Chinese qigong app and fitness mirror which is powered by artificial intelligence.
Edward Chan, member of the Hong Kong Occupational Therapy Association says that patients using the fitness app at home are more motivated.
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.