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 (Mon - Thu 8 to 9 a.m.; Fri 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") .
Hong Kong's economy grew by 0.5% in the second quarter compared to the same period last year, missing estimates for growth of 0.6%. It’s the slowest growth since the global financial crisis. On a quarter-on-quarter basis GDP shrank by 0.4%. Protesters marched through Hong Kong for an eleventh successive weekend, with an estimated 1.7 million people demanding reforms. Financial Secretary Paul Chan warned yesterday Hong Kong should brace itself for an “economic typhoon.” President Trump said if Beijing uses violence in Hong Kong, it would make a trade deal with China hard.
Joining today’s Money Talk to review the latest business, finance and economic headlines are Alex Wong at Ample Capital and Samuel Faveur of Mandarin Capital. Providing the view from the Mainland is Ben Cavender at the China Market Research Group. After 8:30 we discuss innovation & technology in Hong Kong with Wong Kam-fai from the Chinese University of Hong Kong; Sankar Villupuram from ARUP; Ernest Lo, Founder of Future Impact Lab and Naubahar Sharif from the Hong Kong University of Science and Technology.
19/08/2019 - 8:09 Business & Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, says he is not optimistic about Hong Kong’s stock market until a political solution is found to the social unrest, but he is more positive on Chinese A-shares.
Samuel Faveur, CEO and Founder of Mandarin Capital, comments that it’s difficult to forecast how long the economic downturn in Hong Kong will last, since the main components of the economy including retail, tourism and exports are being dragged down by the protests and the international situation.
19/08/2019 - 8:24 View from China
19/08/2019 - 8:35 Monday Debate: Innovation & Tech in HK
Wong Kam-fai, Director of the Center for Innovation and Technology at the Chinese University, comments that although Hong Kong is moving forward in developing innovation and technology, the pace is still slow compared to other cities in Guangdong.
Sankar Villupuram, Digital Services Leader in East Asia from ARUP, points out that the internationally high-ranked universities in Hong Kong and the education system here have laid an important foundation for innovation to develop.
Ernest Lo, Founder of Future Impact Lab, expresses his concern that Hong Kong does have talent but is finding problems in keeping people.
Naubahar Sharif, Associate Professor at the Division of Social Science of HK University of Science and Technology, says that attracting foreign talent to the city goes beyond innovation and tech to areas like the government's policies and the quality of life in Hong Kong.
President Trump and Xi Jinping have agreed to hold an “extended” meeting at the G20 summit in Osaka next week. Chinese state media reported that President Xi told Mr. Trump that economic & trade disputes should be solved through dialogue and the key is to show consideration to each other’s legitimate concerns.
The White House explored the legality of demoting Federal Reserve Chairman Jerome Powell in February, according to reports in the US media. The move would have meant stripping Mr. Powell of his chairmanship, leaving him as one out of seven Fed board governors.
Hong Kong’s Chief Executive Carrie Lam made a televised apology to the people of Hong Kong yesterday for her handling of the controversial extradition bill. However, she refused to resign or confirm the withdrawal of the bill from Legco, two of the key demands of protestors.
On today’s Money Talk we’re joined by Stewart Aldcroft of CitiTrust, Mark Michelson of the Asia CEO Forum and on the phone from Washington D.C., RTHK’s International Economics Correspondent, Barry Wood.
19/06/2019 - 8:09 Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, is optimistic about the meeting between Presidents Trump and Xi at the G20 Summit, saying that both sides are still talking and exploring opportunities.
Mark Michelson, Chairman, Asia CEO Forum at IMA Asia, comments that Hong Kong CE Carrie Lam’s refusal to completely withdraw the extradition bill only fuels people's anger.
RTHK’s International Economics Correspondent Barry Wood expects that President Trump will not actually demote Fed Chair Jerome Powell, since the act will be against the law, and will also rattle global markets.