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") .
President Trump said yesterday that Hong Kong's global financial centre will "go to hell" and nobody will do business under tightened mainland rule. He told Fox News, “Hong Kong can never succeed having China (run it) as opposed to the thousands of geniuses that ran it.”
US Secretary of State Mike Pompeo said that President Trump’s executive orders against TikTok and WeChat could be expanded to more just those two apps. He also suggested the action could also be taken against parent companies ByteDance and Tencent.
US and Chinese negotiators will meet online in the coming days to discuss the progress of the Phase 1 trade deal. Beijing is believed to be pushing to widen the agenda to include Washington’s ban on apps from technology firms ByteDance and Tencent.
The latest survey from the American Chamber of Commerce on the impact of the national security law, reveals that almost 40% of respondents are considering moving capital, assets, or operations out of Hong Kong. They said the law’s ambiguity and the loss of Hong Kong’s special trade status were key reasons for leaving Hong Kong.
On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Quentin Webb from the Wall Street Journal. With a view from Australia is Toby Lawson at Societe Generale in Sydney.
14/08/2020 - 8:08am Business and Market Discussion
Francis Lun, CEO of GEO Securities disagrees with US President Donald Trump's claims that Hong Kong's financial centre would "go to hell" under Chinese rule, as newly listed Chinese tech firms are boosting the local market and more are to come.
Quentin Webb, Asia Markets Editor at the Wall Street Journal holds the view that in spite of the national security law, Hong Kong will still have a global role to play as long as China doesn't fully liberalize its economy.
14/08/2020 - 8:24am View from Australia
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.