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") .
Hong Kong’s exports fell for a second straight month in April. Exports dropped 3.7% from a year earlier, to HK$310billion (US$39.9bn) beating analysts’ forecasts. Imports fell 6.7% to HK$333 billion (US$42.9bn) for a 17th straight month of declines. The trade balance was HK$23.3 billion (US$3.0bn), an improvement from March.
The Federal Reserve is to restart asset purchases in order to ease a liquidity crunch among banks. Fed chairman Jermone Powell said the US central bank will soon resume purchases of Treasury bonds to ease disruption in the short-term lending markets.
The Trump administration said it will restrict companies from exporting American-made goods to 28 more Chinese entities and will also impose visa restrictions on Chinese officials implicated in human rights violations against Muslim minorities in Xinjiang. Beijing said overnight it would likely retaliate against the move and suggested Liu He, Beijing’s chief trade negotiator, could cut his trip to Washington short and return home on Friday after just one day of discussions.
The new head of the International Monetary Fund, Kristalina Georgieva, has given a downbeat assessment of the global economy saying 90% of the world is experiencing a slowdown and global growth is predicted to be the weakest since the financial crisis. Ms. Georgieva also said IMF staff would examine the impact of negative interest rates and urged central banks to “use monetary policy wisely” in the face of a synchronised global slowdown.
Joining today’s Money Talk are Stewart Aldcroft of CitiTrust, Karine Hirn from East Capital and RTHK’s International Economics Correspondent, Barry Wood.
09/10/2019 - 8:09 Business and Market Discussions
Commenting on Brexit, Stewart Aldcroft, Chairman of CitiTrust, says that negotiations have broken down and there is little hope of amending or improving the current Brexit arrangements.
Karine Hirn, Partner at East Capital, expects that the next big story in the US-China trade dispute will be potential restrictions on US funds investing in China.
RTHK’s International Economics Correspondent Barry Wood points out that the upcoming trade talks between the US and China will probably be the last chance in a month or two to solve the dispute before tariffs increase.