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 firstname.lastname@example.org, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
The Hong Kong government has imposed sweeping new social distancing rules to fight the latest surge in Covid-19 infections in the city. From tomorrow, 12 types of venues, including bars, cinemas, and gyms, will be closed for up to seven days, and the number of people allowed to gather will be reduced sharply from 50 to four. The new restrictions come as the total number of cases in Hong Kong rose by another 52 yesterday.
A survey by the American Chamber of Commerce in Hong Kong found that just over half the respondents are considering personally leaving Hong Kong in the short to medium term due to concerns about the new national security law. But over 64% of respondents said their companies have no plans to leave despite almost two-third of the companies polled saying they were negative about the impact of NSL on Hong Kong’s business prospects
Chinese automobile production and sales continued to improve in June. The China Passenger Car Association reported production hit 2.3 million, rising 6.3% from May and gaining 11.6% compared to a year ago. Sales hit 2.3 million, which was a 4.8% month-on-month increase and an 11.6% increase over the year.
On today’s Money Talk, we’re joined by Le Xia of BBVA Research and Kenny Wen from Everbright Sun Hung Kai. With a view from Japan is Nick Smith at CLSA in Tokyo.
14/07/2020 - 8:08am Business and Market Discussion
Le Xia, Asia Chief Economist at BBVA Research expects China's economic growth to reach 2.2% in Q2 but he warns that its economy will remain impacted by the recession in other countries.
Kenny Wen, Wealth Management Strategist at Everbright Sun Hung Kai highlights that keeping equity markets stable remains one of China's top priorities.
14/07/2020 - 8:24am View from Japan
Consumer price inflation in the US increased by the most in a year and a half last month. Core consumer prices rose 0.3% in June and by 2.1% on an annual basis.
Minutes from the ECB’s last Governing Council meeting in June showed members in “broad agreement” that the bank should be “ready and prepared” to launch new stimulus measures, because of “heightened uncertainty” over the EU economy. Money markets are pricing in an 80% chance of a cut in the ECB’s deposit rate this month or in September.
France has approved a new digital services tax which will make a levy of 3% of the sales made in the country by large technology companies such as Google and Facebook. The Trump administration has ordered an inquiry into the move, which could result in retaliatory tariffs on French goods.
On today’s Money Talk we’re joined by Francis Lun of GEO Securities and Kenny Wen at Everbright Sun Hung Kai. Providing the view from down under is Toby Lawson from Societe Generale Australia.
12/07/2019 - 8.08am Business and Market Discussions
Francis Lun, CEO of GEO Securities thinks that the protests in Hong Kong will have a big impact on the city’s economy.
Kenny Wen, Wealth Management Strategist at Everbright Sun Hung Kai expects a quarter point rate cut from the Fed in July but the US central bank needs to dampen market expectations for further cuts.
12/07/2019 - 8.23 am View from Australia