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") .
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
Two major oil facilities in Saudi Arabia, including the world's largest, have been hit in a drone attack. The attacks have reduced Saudi’s crude oil production by 5.7 million barrels a day, about half the kingdom's output. Saudi Arabia produces 10% of the world's crude oil and the 50% reduction has sent oil prices soaring over 13% in Asian trading this morning.
The board of the London Stock Exchange Group has unanimously rejected Hong Kong Exchanges and Clearing’s £32bn merger offer and says it sees “no merit in further engagement” on the matter. In a strongly worded letter to the Hong Kong Exchange, the LSE questioned the ownership structure of HKEX and its relationship with the Hong Kong government and said the Shanghai Stock Exchange was its “preferred” partner to unlock the opportunities in mainland China.
A fifteenth weekend of protests have left a trail of destruction and violence across Hong Kong with Admiralty and Wan Chai MTR stations vandalised. Yesterday, Hong Kong International Airport said it suffered a 12.4% fall in passengers in August, the biggest decline in a decade.
On today’s Money Talk, we have with us Alex Wong of Ample Capital and Dickie Wong from Kingston Securities. Providing our weekly view from the mainland is Brock Silvers at Kaiyuan Capital in Beijing.
16/09/2019 - 8.08am Business and Market Discussions
Alex Wong, Director of Asset Management, Ample Capital says the London Stock Exchange’s business model is more diversified compared to HKEx as only 40% of its revenue is driven by transaction volume, while HKEx hasn’t expanded to include other businesses.
Dickie Wong, Head of Research at Kingston Securities, sees little upside for Hong Kong stocks and thinks the spike in oil prices will hold back share prices.
16/09/2019 - 8.23 am View from China