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") .
US jobless claims surged last week as the coronavirus pandemic shut businesses across America. The number of people filing for unemployment benefits jumped by a record breaking 3.3 million people from 282,000 the previous week.
Singapore's GDP growth tumbled by an annualised 10.6% in the first quarter of 2020 from the previous quarter, the sharpest drop in more than a decade. The city state downgraded its 2020 GDP growth forecast to between minus 4% and minus 1%.
Singapore has tapped into its reserves for only the second time in history and announced a massive S$48 billion (US$33.7 billion) stimulus plan to combat the economic impact of the Covid-19 pandemic. Combined with the measures announced in the budget it brings the total fiscal boost to S$55 billion, or 11% of GDP.
Hong Kong’s Census and Statistics Department reported yesterday exports from the territory slumped 12% in the first two months of the year. Imports fell by 9.3% leaving a trade deficit of HK$69.1 billion in the two-month period.
Joining us on today’s Money Talk are Francis Lun of GEO Securities and Kenny Wen from Everbright Sun Hung Kai. With the view from Australia is Toby Lawson at Societe Generale Australia.
27/03/2020 - 8:08am Business and Market Discussion
Francis Lun, CEO of GEO Securities says that both Hong Kong and Mainland China should expect further economic contraction with as much as negative 10% growth, quarter-on-quarter.
Kenny Wen, Wealth Management Strategist at Everbright Sun Hung Kai highlights that the world economy is more likely to see a U-shaped recovery, as he forecasts a lengthy process of returning to normalcy.
The US House of Representatives will start an impeachment inquiry into President Trump over allegations that he withheld aid from Ukraine unless it investigated a political rival. It’s the first such investigation since the chamber impeached Bill Clinton in 1998.
President Trump has criticized China for pursuing an unfair economic model in a speech at the United Nations. Speaking to delegates he said China had failed to implement promised reforms, uses heavy state subsidies, engages in product dumping and forced technology transfers and steals intellectual property. He also challenged Beijing to live up to its promises to Hong Kong made in the Sino-British Joint Declaration.
London Stock Exchange CEO, David Schwimmer, speaking at a conference in London, said he doubts whether Hong Kong has a competitive position in the future and sees Shanghai as the financial hub of China. HKEX’s CEO, Charles Li, speaking at the same conference said, “now is the time to create a global exchange,” given there is US$27 trillion in the Chinese banking system that “needs to be deployed.”
On today’s Money Talk our guests are David Roche of Independent Strategy, Steve Wang from CITIC CLSA and on the phone from Washington D.C., RTHK’s International Economics Correspondent, Barry Wood.
25/09/2019 - 8:09 Business and Market Discussions
David Roche, President and Global Strategist of Independent Strategy, anticipates that there will be a global recession, and in the markets the first casualty will be equities.
Steve Wang, Senior Credit Analyst from CITIC CLSA, says that US bond yields were backing up excessively earlier this month and he advises investors to go back in to Treasuries.
RTHK’s International Economics Correspondent Barry Wood says that despite weakening consumer confidence, the US economy is still performing well.