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") .
The UK’s Speaker of the House of Commons has rejected the British government’s attempt to hold a second vote to approve its Brexit deal agreed with the EU. The government will now try to speedily pass withdrawal legislation through the House of Commons in three days this week in order to meet its deadline of leaving the EU on 31 October.
Germany's Bundesbank has warned that Europe's largest economy may have contracted in the July to September period for the second quarter in a row, putting it in a technical recession. The central bank said a slowdown in exports is impacting the domestic market.
Japanese exports fell for a tenth straight month in September. Outbound trade dropped by a worse than expected 5.2% y/y last month. South Korean trade suffered double digit falls. For the first 20 days of October, exports fell 19.5% and imports tumbled 20%.
President Trump said overnight that trade negotiations with China are advancing and Chinese companies have already started purchases of US agricultural products as part of a Phase 1 trade deal.
China’s home prices moderated slightly in September. The prices of new houses rose in 53 out of the 70 biggest cities by an average of 0.53% m/m compared to a 0.58% rise in August. In year-over-year terms, prices climbed on average by 8.4% last month compared to 8.8% in August.
On today’s Money Talk we’re joined by Connie Bolland of Economic Research Analysis and Quentin Webb from The Wall Street Journal. Providing the view from Japan is Naoyuki Yoshino, Dean of the Asian Development Bank Institute.
22/10/2019 - 8:09 Business and Market Discussions
Connie Bolland, Founder & Chief Economist at Economic Research Analysis, says that since both Japan and South Korea are export-dependent countries, the drop in exports increases the risk of the global recession that the IMF warned of over the weekend.
Quentin Webb, Asia Markets Editor from The Wall Street Journal, comments that the Chinese government is avoiding flood-like stimulus, but it is hard to make sure that credit gets to the right places without creating bubbles in the market.
22/10/2019 - 8:26 View From Japan
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