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") .
Hong Kong has confirmed it’s entered its first recession for a decade following six months of protests and unrest. The SAR’s economy contracted 3.2% in the third quarter compared with the second three months of the year, confirming earlier preliminary data. The government now expects the economy to shrink 1.3% for the full year, saying domestic demand worsened significantly in the last quarter, and consumption and investment fell. Financial Secretary Paul Chan said yesterday Hong Kong is in an extremely dangerous position and on the brink of its worst recession since the 1997 handover.
The unrest in Hong Kong, now into its sixth month, saw more violence over the weekend as protesters and police fought a pitched battle at the Polytechnic University. One officer was shot in the leg by an arrow and police warned they would use live ammunition if violence against officers continues.
Saudi Arabia’s state-owned oil giant Aramco has cut the valuation of its forthcoming IPO. It will sell 1.5% of its shares and seek US$25.6bn at the top end of the pricing range, potentially making it the world’s largest ever IPO, and valuing the company at up to US$1.7tn. It was looking for US$2 trillion.
On today’s Money Talk, we’re joined by Alex Wong of Ample Capital and Quentin Webb from The Wall Street Journal. Ben Cavender of the China Market Research Group provides the view from China.
18/11/2019 - 8:07 Business and Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, comments that the surge in Hibor is due to Alibaba's listing, but if the social unrest continues, the world may get accustomed to doing business without Hong Kong.
Quentin Webb, Asia Markets Editor from The Wall Street Journal, says that President Trump may try to block the Hong Kong Human Rights and Democracy Act if it stops the US from getting a good trade deal with China.
18/11/2019 - 8:24 View From China
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