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") .
Hong Kong’s unemployment rate in the three months ending August stood at 6.1%, unchanged from the May-to-July period, the highest level since January 2005. The consumption and tourism related sectors were among the hardest hit, with a combined jobless rate of 10.9%, the highest since the SARS outbreak in 2003.
18/09/2020 - 8:08am Business and Market Discussion
Oil prices have surged following the drone attack on two Saudi Arabian oil facilities over the weekend, which have halved the kingdom’s oil producing capabilities and knocked out more than 5% of the world’s supply. Brent crude oil jumped 20% at one point but trimmed gains after President Donald Trump authorised a release of oil supplies from the US Strategic Petroleum Reserve to help stabilize markets.
Credit rating agency Moody’s has cut its outlook for Hong Kong's credit rating to negative from stable but maintained its current rating. Moody's said the change in outlook reflects the increasing risk of "an erosion in the strength of Hong Kong's institutions" amid the protests.
Norman Chan, chief executive of the Hong Kong Monetary Authority, said yesterday there was no evidence of capital flight due to the protests and Hong Kong’s reserves are big enough to withstand any attack by short sellers on the territory’s financial system.
Industrial output growth in China has fallen to the lowest level since 2002, rising 4.4% y/y in August. Retail sales and fixed-asset investment also missed expectations. Premier Li Keqiang warned that maintaining growth of 6% or more would be "very difficult."
On today’s Money Talk, we’re joined by Connie Bolland of Economic Research Analysis and Brad Gibson from Alliance Bernstein. Providing the view from Japan is Naoyuki Yoshino of the Asian Development Bank Institute.
17/09/2019 - 8.08am Business and Market Discussions
Connie Bolland, founder and chief economist of Economic Research Analysis, thinks the surging oil price poses a significant problem to the global economy in the short term as Saudi Arabia is the world’s biggest exporter.
Though Moody’s has cut its outlook for Hong Kong's credit rating, Brad Gibson from Alliance Bernstein says Hong Kong’s corporates and institutions access to the capital markets remains fully open.
17/09/2019 - 8.23 am View from Japan