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") .
The UK’s Speaker of the House of Commons has rejected the British government’s attempt to hold a second vote to approve its Brexit deal agreed with the EU. The government will now try to speedily pass withdrawal legislation through the House of Commons in three days this week in order to meet its deadline of leaving the EU on 31 October.
Germany's Bundesbank has warned that Europe's largest economy may have contracted in the July to September period for the second quarter in a row, putting it in a technical recession. The central bank said a slowdown in exports is impacting the domestic market.
Japanese exports fell for a tenth straight month in September. Outbound trade dropped by a worse than expected 5.2% y/y last month. South Korean trade suffered double digit falls. For the first 20 days of October, exports fell 19.5% and imports tumbled 20%.
President Trump said overnight that trade negotiations with China are advancing and Chinese companies have already started purchases of US agricultural products as part of a Phase 1 trade deal.
China’s home prices moderated slightly in September. The prices of new houses rose in 53 out of the 70 biggest cities by an average of 0.53% m/m compared to a 0.58% rise in August. In year-over-year terms, prices climbed on average by 8.4% last month compared to 8.8% in August.
On today’s Money Talk we’re joined by Connie Bolland of Economic Research Analysis and Quentin Webb from The Wall Street Journal. Providing the view from Japan is Naoyuki Yoshino, Dean of the Asian Development Bank Institute.
22/10/2019 - 8:09 Business and Market Discussions
Connie Bolland, Founder & Chief Economist at Economic Research Analysis, says that since both Japan and South Korea are export-dependent countries, the drop in exports increases the risk of the global recession that the IMF warned of over the weekend.
Quentin Webb, Asia Markets Editor from The Wall Street Journal, comments that the Chinese government is avoiding flood-like stimulus, but it is hard to make sure that credit gets to the right places without creating bubbles in the market.
22/10/2019 - 8:26 View From Japan
The European Central Bank has announced its biggest package of monetary stimulus in three years. In Mario Draghi’s last meeting as President of the central bank, the ECB cut its deposit rate by 10bps to minus 50bps and restarted quantitative easing to boost eurozone growth. In a contentious move, the ECB said it will buy 20 billion euros of bonds a month from November, for as long as necessary to hit its 2% inflation target. President Trump responded by accusing the ECB of depreciating the euro and urging the Fed to respond next week.
Investors in London and Hong Kong and the board of the London Stock Exchange have given a cool response to the proposal by Hong Kong Exchanges and Clearing to merge with the London Stock Exchange Group. The board of the LSE described the offer from HKEX as “unsolicited, preliminary and highly conditional”. HKEx is reported to be open to sweetening its £32bn offer by considering a higher element of cash in the deal.
Donald Trump says he will think about an interim trade deal with China. The US administration is considering offering a limited trade agreement to Beijing to delay or roll back some US tariffs in exchange for commitments from China on intellectual property and buying US farm produce.
On today’s Money Talk we’re joined by Francis Lun of GEO Securities and Kenny Wen from Everbright Sun Hung Kai. Providing the view from Australia is Toby Lawson at Societe Generale Australia.
13/09/2019 - 8.08am Business and Market Discussions
Francis Lun, CEO of GEO Securities doubts if the UK government would allow HKEx, under Chinese influence, to take over the London Stock Exchange, a key part of their financial industry.
Kenny Wen, Wealth Management Strategist of Everbright Sun Hung Kai says, the US government has many weapons to frustrate China, including environmental issues, labour rights and intellectual property.
13/09/2019 - 8.23 am View from Australia