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 firstname.lastname@example.org, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
US Treasury Secretary Steven Mnuchin has warned that new tariffs on US$156bn of Chinese goods will be imposed if a trade deal is not finalised by 15 December. China reportedly wants more talks to hammer out the details before Chinese President Xi Jinping agrees to sign it.
The two year-long dispute has taken its toll on trade between the two countries. The latest data from China’s General Administration of Customs shows exports to the US dropped almost 11% and imports are down over 26% in the nine months to September.
The Hong Kong Monetary Authority will cut the amount of capital that banks need to set aside, for the first time since 2015. The countercyclical capital buffer will be reduced from 2.5% to 2%, releasing between HK$200 billion and HK$300 billion into the financial system.
Our guests on today’s Money Talk are Connie Bolland of Economic Research Analysis and Patrick Bennett from Canadian Imperial Bank of Commerce. Providing the view from Japan is Marcel Thieliant at Capital Economics
15/10/2019 - 8:08 Business and Market Discussions
Connie Bolland, Founder & Chief Economist of Economic Research Analysis, says that the worsening Chinese trade data indicates there is no recovery in the economy in sight, and Ms. Bolland expects the figures to fall further in Q4.
Patrick Bennett, Macro Strategist at Canadian Imperial Bank of Commerce, comments that the “Phase 1” US-China trade deal is just a handshake between the two nations that makes no real progress and is not anywhere close to an actual deal.
15/10/2019 - 8:25 View From Japan
Marcel Thieliant, Senior Japan Economist at Capital Economics, says that the Japanese government is now focusing on narrowing the budget deficit, and if the Japan economy weakens further, Mr. Thieliant expects to see a supplementary budget including stimulus at the end of the year, to offset the sales tax hike.
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 - 8:30-8:45 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.