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 firstname.lastname@example.org, 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.
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.