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") .
Chinese state media has labelled the US as a “rogue country” and described the potential sale of video sharing firm TikTok to Microsoft as “theft.” The China Daily said Beijing “has plenty of ways to respond if the administration carries out its planned smash and grab” of TikTok.
The US factory sector has improved for a second consecutive month. Factory orders rose 6.2% in June, adding to the 7.7% gain seen in May. The gains were led by orders for transportation equipment, with a rise of 20.2%.
Hong Kong’s Mandatory Provident Fund returned on average 3.85% in July, or HK$11,136 for each of the nearly 3 million people in the scheme. Asia-Pacific equity funds were the best performers with average monthly returns of 8.8%, followed by Greater China equity funds at 8.7% and US equity funds at 5.7%.
On today’s Money Talk, we’re joined by Stewart Aldcroft of CitiTrust, David Roche at Independent Strategy and RTHK’s International Economics Correspondent Barry Wood in Washington, D.C.
05/08/2020 - 8:09am Business and Market Discussion
Stewart Aldcroft, Chairman of CitiTrust says that uncertainty from the latest surge in Covid-19 makes it difficult for the Fed to take targeted recovery measures.
David Roche, President & Global Strategist at Independent Strategy views the TikTok saga as another step towards a US-China cold war and he expects finance to be targeted next.
Barry Wood, RTHK’s International Economics Correspondent in Washington, D.C. doesn’t think that the US will restrict economic freedom, despite forcing a sale of TikTok, as the free market remains in the country’s best interests.
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