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 Chief Executive of the Hong Kong Monetary Authority, Norman Chan, warned yesterday that the Hong Kong economy faces additional headwinds because of three months of protests and predicted that the territory’s economy contracted in the third quarter.
President Trump’s China Advisor, Michael Pillsbury, said the US is ready to escalate the trade war if a deal isn’t agreed soon. He said tariffs on Chinese goods could go to 50% or 100%.
The Bank of England has kept interest rates on hold at 0.75%, in its last meeting before the UK is due to leave the EU but signalled that prolonged Brexit uncertainty could hurt economic growth and keep interest rates lower for longer.
The Bank of Japan held overnight interest rates at minus 0.1% but has called for a review of the economy and inflation at its next meeting in October and expressed concern that inflation was moving further away from its 2% target.
Our guests on today’s Money Talk are Ronald Wan at Partners Financial Holdings and Iris Pang from ING Wholesale Banking. We’re also going to look at the latest news from Saudi Arabia and the outlook for the oil price with Vandana Hari, Founder of Vanda Insights.
20/09/2019 - 8:07 Business and Market Discussions
Ronald Wan, Non-Executive Chairman at Partners Financial Holdings, comments that although the Chinese government is trying to boost the economy, if the trade war does not improve in the near future, the economic bubble may burst.
Iris Pang, Greater China Economist from ING Wholesale Banking, says that the HKMA base rate cut will not be passed on to the local money market and banks, and therefore cannot help Hong Kong's economy.
20/09/2019 - 8:24 Latest on Oil
Business organisations have welcomed the move by Carrie Lam to suspend the controversial extradition bill. The American Chamber of Commerce in Hong Kong, which has opposed the bill, said it was relieved and the decision showed that Hong Kong is serious about protecting its special status under “one country, two systems.” US Secretary of State, Mike Pompeo, said President Trump will discuss the mass protests in Hong Kong with President Xi Jinping at the upcoming G20 summit.
The latest economic data from China has provided further evidence of a broad-based slowdown in the mainland economy, particularly in the manufacturing sector. Industrial production in May missed estimates hitting a 17-year low but retail sales beat expectations.
Joining today’s Money Talk are Alex Wong of Ample Capital and Anthony Chan from Union Bancaire Privée. Providing the view from the mainland is Brock Silvers at Kaiyuan Capital.
17/06/2019 - 8:09 Business and Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, comments that if the controversy over the extradition bill worsens, interest rates in HK will rise, impacting the entire local economy and the property market.
Anthony Chan, Chief Asia Investment Strategist from Union Bancaire Privée, expects that with the continued slowdown in the mainland economy, Chinese authorities will likely cut the RRR in July.
17/06/2019 - 8:24 View from China
Brock Silvers, Managing Director at Kaiyuan Capital, says it is a bad time for President Xi to have to deal with the protests in Hong Kong while battling against the US on trade and with the upcoming Taiwan presidential election. Mr. Silvers expects that there will be no quick response from the central government on whether it spells the end of Carrie Lam’s term as CE.