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
The Financial Times is reporting that the Chinese government is drawing up plans to replace Hong Kong Chief Executive Carrie Lam with an interim leader following four months of violent protests against her administration. The FT says her successor would be installed in March and serve out the remainder of her term until 2022. Leading candidates to replace her are said to include former HKMA Chief Executive Norman Chan and former Financial Secretary and Chief Secretary Henry Tang.
UK Prime Minister Boris Johnson has won the support of MPs in the first vote on his Brexit bill but has failed to receive approval for his timetable to push it through the House of Commons in just three days. He has now paused the legislation while he discusses the next steps. European Council President Donald Tusk says he will recommend that EU leaders accept the UK request for a delay to the date that the UK leaves the EU.
Japan’s SoftBank will take over struggling office subletting company WeWork in a US$3.5bn debt-funded bailout package and a tender offer of US$3bn to buy out existing shareholders. The deal cuts WeWork's valuation from US$47bn a few months ago to less than US$8bn.
On today’s Money Talk we’re joined by Stewart Aldcroft of CitiTrust, Steve Wang from CITIC CLSA and RTHK’s International Economics Correspondent, Barry Wood.
23/10/2019 - 8:08 Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, commenting on reports that Beijing wants to have a change in the leadership of the SAR, says that both possible candidates mentioned, Norman Chan and Henry Tang, are acceptable and experienced and are well-liked by Hong Kong people.
Steve Wang, Senior Credit Analyst at CITIC CLSA, says that markets are seeing a polarisation in investors' preference, and they now prefer defensive-positioned bonds.
RTHK’s International Economics Correspondent Barry Wood says that The Hong Kong Human Rights and Democracy Act will be passed by Congress and signed by President Trump, though there may be a new storm after the Act has passed into law.