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") .
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.
The US Federal Reserve has cut interest rates by 25bps as anticipated but the FOMC is divided on further action later this year. President Trump criticised the decision tweeting that the Fed had shown “no guts, no sense and no vision.” The Hong Kong Monetary Authority has followed suit and cut its base lending rate by 25bps to 2.25%.
Joshua Wong and other Hong Kong activists have told a US congressional hearing that Beijing was eroding the city’s autonomy and it was unable to understand or govern a free society. He urged the US to reassess Hong Kong’s special trade status. US Lawmakers are considering enacting the Hong Kong Human Rights and Democracy Act, which would allow sanctions on Chinese officials and require annual assessments of whether the city is sufficiently autonomous from Beijing to continue its special trading status. House speaker Nancy Pelosi says Congress will move swiftly to pass the act.
On today’s Money Talk, analysing the Fed’s interest rate decision are Enzio von Pfeil from St. James’s Place and Samuel Faveur of Mandarin Capital. Providing the view from Taiwan is Political Risk Consultant, Ross Feingold.
19/09/2019 - 8:08 Business and Market Discussions
Enzio von Pfeil, Private Wealth Adviser at St. James’s Place, says that President Trump will blame the Fed if the economy is not performing well and he loses in the upcoming presidential election.
Samuel Faveur, CEO and Founder of Mandarin Capital, comments that the Fed's decision to cut interest rates by 25bps makes sense and is in line with the economic data which show signs of a slowdown in the US economy.
19/09/2019 - 8:24 View from Taiwan
Taiwan-based Political Risk Consultant Ross Feingold says that the Hong Kong Human Rights and Democracy Act is gaining support among both Democrats and Republicans in the US Congress, and that the bill is very likely to pass. Mr. Feingold adds that if Hong Kong loses its special trade status, the cost of doing business here will rise.