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") .
Good morning. The European Central Bank has expanded its bond buying programme by €600bn taking it to €1.35 trillion and extended its duration until 2021 to support the eurozone economy, which is facing its biggest recession since World War Two. The ECB also held interest rates at a record low of minus 0.5%. The latest employment data from the US showed 1.9 million Americans filed for unemployment benefits in the past week, taking the total number of jobless claims since lockdowns across the country began to 43 million. But the rate of new claims is below 2 million for the first time in 11 weeks. Continuing claims, which is a gauge of ongoing unemployment, edged up to 21.5 million, accounting for 14.8% of the workforce. US exports and imports both posted their largest monthly decreases on record and the trade deficit widened because of Covid-19 lockdowns around the world. Imports into the United States dropped 13.7% in April and exports fell 20.5%. The trade deficit widened 16.7% to US$49.4 billion. China has said it will loosen restrictions on international air travel after the US threatened to ban passenger flights from China. Starting on June 8, foreign carriers can fly once a week to a Chinese city of their choosing that is capable of handling overseas arrivals. UK car sales fell by 90% last month as showrooms across the country were and were brought to a standstill. Just over 20,000 new cars were sold in May, compared to almost 184,000 a year earlier. On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Nitin Dialdas from Mandarin Capital. With a view from Australia is Toby Lawson at Societe Generale Australia.
05/06/2020 - 8:08am Business and Market Discussion
Francis Lun, CEO of GEO Securities says that Hong Kong's economic recovery can only succeed once tourists are back, something that could take a long time even after the travel ban gets lifted.
Nitin Dialdas, Chief Investment Officer at Mandarin Capital stresses that companies should remain politically neutral and sees the coerced politicisation of Hong Kong-based finance firms as setting a bad
05/06/2020 - 8:24am View from Australia
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