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") .
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 World Trade Organization has slashed its forecast for global trade growth by more than half this year, warning that the slowdown could hit living standards and jobs. The WTO said it expected trade volumes to grow by 1.2% in 2019, down from its previous prediction of 2.6% made in April. The organisation also cut its forecast for global economic growth this year from 2.6% to 2.3%.
Manufacturing activity in the US has hit a 10-year low. Exports, new orders and employment all contracted amid the worsening US-China trade war.
Japan has raised it sales tax for the first time in five years. The rate was hiked from 8% to 10% yesterday despite fears over the weak economy.
On today’s Money Talk we’re joined by Stewart Aldcroft from CitiTrust, Peter Churchouse of Portwood Capital and RTHK’s International Economics Correspondent, Barry Wood.
02/10/2019 - 8:08 Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, says he is positive about the UK leaving the EU with a deal and he expects that Brexit will happen by the end of October.
Peter Churchouse, Founder of Portwood Capital, comments that politicians have been making the global economy worse and relying on central banks to come to the rescue by lowering interest rates.
RTHK’s International Economics Correspondent Barry Wood sees further reductions in global GDP projections coming up because of slowing trade brought about by the US-China dispute.