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") .
Just days before the G20 summit, President Trump has blacklisted more Chinese companies. The US Commerce Department announced on Friday it would ban five more Chinese tech companies from buying US components, after blacklisting telecom giant Huawei last month. The US says these companies “pose a significant risk of being involved in activities contrary to the national security and foreign policy interests of the United States.”
Chinese state media urged the US to drop its win-at-all-costs trade stance and consider the interests of its own people as well as the global community. The People’s Daily said in an editorial on Saturday that the US should cancel all tariffs on Chinese goods, saying the only way to resolve trade issues was through “equal dialogue”. The editor of the Global Times said China won't accept a deal that allows the US to keep tariffs on mainland products. White House trade advisor Peter Navarro said the level of additional tariffs had not yet been decided.
On Monday's Money Talk, reviewing the latest business and finance news headlines are Alex Wong, Director of Asset Management at Ample Capital, and Le Xia, Chief Economist for Asia from BBVA Research. For this week's view from the mainland we're joined by Michael Norris, Research and Strategy Manager at AgencyChina.
24/06/2019 - 8:10 Business and Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, says that market expectations of a rate cut from the Fed and optimism about the meeting between Presidents Trump and Xi at the G20 Summit have boosted sentiment. Mr. Wong adds that the Fed may cut rates if the trade discussions do not go well.
Le Xia, Chief Economist for Asia from BBVA Research, comments that it is problematic to stimulate the Chinese economy if small banks on the mainland are not willing to lend more money.
24/06/2019 - 8:24 View from China
Violent clashes between police and protestors demonstrating against the proposed Hong Kong extradition law shut down parts of the financial district yesterday with a number of banks closing branches in Admiralty and making flexible work arrangements. Several hundred small businesses and shops closed for the day in support for the protestors. The speaker of the US House of Representatives, Nancy Pelosi, said, the US could review Hong Kong’s special status saying, “if it passes, the Congress has no choice but to reassess whether Hong Kong is ‘sufficiently autonomous’ under the ‘one country, two systems’ framework.”
President Trump said there’s no specific deadline to get a trade deal agreed with China to avoid tariffs of 25% being imposed on an additional US$300bn worth of goods from the country. He warned though that he could take “additional steps” on Mexico in 45 days.
Consumer prices in China rose at the fastest pace in 15 months last month boosted by higher pork prices, following an outbreak of African swine fever. The consumer price index rose 2.7% year-on-year but pork prices surged over 18%.
On today’s Money Talk we’re joined by Enzio von Pfeil of St. James’s Place and Andrew Freris of Ecognosis Advisory. Providing the view from South Korea is Peter Kim from Mirae Asset Daewoo in Seoul.
13/06/2019 - 8:09 Business and Market Discussions
Enzio von Pfeil, Private Wealth Adviser at St. James’s Place, says since the handover, the HK government has shown a singular lack of vision – one whose chickens now are coming home to roost.
Andrew Freris, CEO of Ecognosis Advisory, comments that the Chinese authorities are not concerned that inflation is picking up.
13/06/2019 - 8:26 View from South Korea