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") .
Hong Kong has confirmed it’s entered its first recession for a decade following six months of protests and unrest. The SAR’s economy contracted 3.2% in the third quarter compared with the second three months of the year, confirming earlier preliminary data. The government now expects the economy to shrink 1.3% for the full year, saying domestic demand worsened significantly in the last quarter, and consumption and investment fell. Financial Secretary Paul Chan said yesterday Hong Kong is in an extremely dangerous position and on the brink of its worst recession since the 1997 handover.
The unrest in Hong Kong, now into its sixth month, saw more violence over the weekend as protesters and police fought a pitched battle at the Polytechnic University. One officer was shot in the leg by an arrow and police warned they would use live ammunition if violence against officers continues.
Saudi Arabia’s state-owned oil giant Aramco has cut the valuation of its forthcoming IPO. It will sell 1.5% of its shares and seek US$25.6bn at the top end of the pricing range, potentially making it the world’s largest ever IPO, and valuing the company at up to US$1.7tn. It was looking for US$2 trillion.
On today’s Money Talk, we’re joined by Alex Wong of Ample Capital and Quentin Webb from The Wall Street Journal. Ben Cavender of the China Market Research Group provides the view from China.
18/11/2019 - 8:07 Business and Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, comments that the surge in Hibor is due to Alibaba's listing, but if the social unrest continues, the world may get accustomed to doing business without Hong Kong.
Quentin Webb, Asia Markets Editor from The Wall Street Journal, says that President Trump may try to block the Hong Kong Human Rights and Democracy Act if it stops the US from getting a good trade deal with China.
18/11/2019 - 8:24 View From China
Hong Kong is bracing for its first general strike in more than 50 years today as the territory’s political crisis worsens. A ninth consecutive weekend of protests culminated in further violent confrontations with the police and the demonstrations are spreading to new neighbourhoods and are dragging more sectors of society into the conflict.
China has warned the country will retaliate against the US if it carries out Donald Trump’s threat to impose new tariffs on a further US$300bn of Chinese imports. The mainland’s foreign ministry suggested the new tariffs could scupper plans for another round of trade talks in Washington next month.
On today’s Money Talk are Alex Wong from Ample Capital and David Roche of Independent Strategy. Providing the view from the mainland is Brock Silvers at Kaiyuan Capital. After 8:30 we discuss the topic of financial inclusion with China Strategist Andrew Leung, Stephen Wong from HKU SPACE, and Lotte Schou-Zibell from the Asian Development Bank.
05/08/2019 - 8:09 Business & Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, says that Hong Kong is entering a recession, with a drop in retail sales and tourists number, and investors are considering stopping investing in HK.
David Roche, President and Global Strategist of Independent Strategy, points out that the manufacturing sector is very weak globally, and the world economy is giving a worrying picture for the stock markets.
05/08/2019 - 8:24 View from China
05/08/2019 - 8:36 Monday Debate: Financial Inclusion
Andrew Leung, International and Independent China Strategist, says that China has been at the forefront of e-commerce and mobile payments on the mainland.
Stephen Wong, Adjunct Associate Professor at the Institute of China Business of HKU SPACE, comments that the development of Fintech such as virtual banks has moved financial inclusion around the world to the next level.
Lotte Schou-Zibell, Chief of Finance Sector Group, Sustainable Development and Climate Change Department at the Asian Development Bank, says that Fintech is not the right solution for some remote and rural areas in Asia that do not have internet and a stable supply of electricity.