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 email@example.com, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
US shares and Treasury bond yields have fallen following reports that a Phase 1 trade deal between the US and China may not be completed until next year. Trade negotiators are still haggling over the roll back of existing tariffs and intellectual property and technology transfer issues.
China has demanded that the US stop the Hong Kong Human Rights and Democracy Act from becoming law. The Hong Kong government warned that US interests could be hurt by the new legislation. A spokesman said the US trade surplus with Hong Kong is the largest amongst her trade partners in the world, at over US$33 billion in 2018.
The minutes of the last Federal Reserve monetary policy committee meeting show officials believe that political risks to growth have eased since the Summer. Policymakers said trade tensions were easing and the probability of a no-deal Brexit was judged to have lessened.
In China, the November 1-year and 5-year loan prime rates were both cut by 5bps. The 1-year rate was trimmed to 4.15%, in the third reduction of the year.
Joining today’s Money Talk are Enzio von Pfeil at St. James’s Place and Sam Faveur of Mandarin Capital. In the second half of the programme, we talk with Hong Kong’s Secretary for Labour and Welfare, Law Chi-kwong.
21/11/2019 - 8:07 Business and Market Discussions
Enzio von Pfeil, Associate Partner & Private Wealth Adviser at St. James’s Place, questions the effectiveness of China cutting the 1-year and 5-year Loan Prime Rates by 5bps and says that this measure will not attract companies to invest more on the mainland.
Samuel Faveur, CEO and Founder of Mandarin Capital, comments that ongoing political issues mean both the US and China will take more pain before reaching a trade deal.
21/11/2019 - 8:20 Unemployment in Hong Kong
UK Prime Minister Boris Johnson’s Brexit plans are in disarray after MPs backed an amendment to delay the latest Brexit deal negotiated with the EU by three months. The Prime Minister has now written an unsigned letter to the EU seeking a postponement, but he will bring in legislation today to try again to implement the deal he agreed with Brussels last week. He says he is confident he has the votes to ensure Britain leaves the EU on 31 October.
Economic growth in China in the third quarter slipped to a new record low of 6%. The economy was impacted by the US-China trade war, a slowdown in manufacturing and slowing domestic income growth.
The IMF has vowed to use “all appropriate tools” to combat weak global growth. The communiqué issued at the end of the IMF and the World Bank’s annual meetings in Washington over the weekend, urged leaders to bring an end to the damaging trade wars.
China’s top trade negotiator and vice premier Liu He said Saturday that trade talks with the US are making progress and both sides are working towards a partial phase one agreement.
On today’s Money Talk we’re joined by Alex Wong of Ample Capital and Dickie Wong from Kingston Securities. Providing the view from the mainland is Ben Cavender at the China Market Research Group.
21/10/2019 - 8:09 Business and Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, expects that the latest economic data from the mainland will not have a big impact on the stock market.
Dickie Wong, Head of Research at Kingston Securities, comments that this year's Policy Address will not help boost the slowing local economy or alleviate the ongoing social unrest.
21/10/2019 - 8:25 View From China