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") .
Beijing’s proposed resolution for a national security law for Hong Kong was unexpectedly expanded yesterday to bring organisations as well as individuals under its ambit. The law was understood to originally prohibit behaviour by individuals that endangers national security but has now been amended to cover “activities” as well.
Yesterday, Hong Kong Chief Executive Carrie Lam said the claim that the national security legislation will undermine Hong Kong's position as an international financial centre was "totally groundless". Mrs. Lam also announced that more businesses would be allowed to reopen as Hong Kong relaxed social distancing measures and Hong Kong airport will resume transit services from June 1.
On today’s Money Talk, we’re joined by Stewart Aldcroft of CitiTrust, Gavin Parry from Parry Global Group and RTHK’s International Economics Correspondent Barry Wood.
27/05/2020 - 8:09am Business and Market Discussion
Stewart Aldcroft, Chairman of CitiTrust, says that Hong Kong remains a distinguished financial centre and Singapore and other centres in the region cannot offer the same gateway to the Chinese market.
Gavin Parry, CEO of the Parry Global Group thinks that excess liquidity is the main driver behind the rally in global equities.
Barry Wood, RTHK's International Economics Correspondent based in Washington D.C. is of the view that the US faces a tough decision on Hong Kong as they are likely to impose sanctions on China but won’t want to damage Hong Kong.
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