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") .
Facebook, Google, and Twitter say they have suspended cooperation with the Hong Kong government and police for data requests. Facebook said in a statement the pause in processing requests for information was "pending further assessment of the impact of the national security law". The assessment will include "formal human rights due diligence and consultations with human rights experts". Hong Kong police are to be given sweeping new powers unveiled under the "implementation rules" of Article 43 of the national security law. The police can raid premises without a court warrant, order internet firms to remove content or seize their equipment and demand service providers hand over records about anyone's identity or help in decoding information. The latest PMI data shows that Hong Kong’s business conditions moved closer to stabilisation during June amid an ongoing relaxation of Covid-19 containment measures. The Hong Kong Markit PMI rose to 49.6 from a reading of 43.9 in May, the highest since the downturn began in April 2018. On today’s Money Talk, we’re joined by Mark Michelson from IMA Asia. In the second half of the programme, Charles Mok, Legislator representing the IT Functional Constituency, will discuss the impact of the national security law on the IT sector.
07/07/2020 - 8:05am Business and Market Discussion
07/07/2020 - 8:16am IT Legislator Charles Mok
China’s Commerce Ministry said yesterday that US and Chinese trade negotiators have agreed to lift existing tariffs on each other’s goods in phases, with the amount of tariff relief in the first phase depending on the content of the agreement. US stocks, treasury bond yields and the Chinese yuan have surged following the announcement.
The FT is reporting that Alibaba has cut its fundraising target for its delayed secondary listing in Hong Kong. The paper says that the e-commerce giant is now seeking to raise between US$10bn and US$15bn before the end of the year, compared to its previous target in June of US$20bn.
Economic growth in Shenzhen slowed sharply in the third quarter. The hi-tech hub saw growth slow to 6.6% in the first nine months of 2019, down from 7.4% in the first half of the year. That's the slowest rate of growth since Shenzhen became a special economic zone 40 years ago.
On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Mark Michelson at IMA Asia. Also with us is Calvin Choi, Chairman and Chief Executive Officer of AMTD.
08/11/2019 - 8:07 Business and Market Discussions
Commenting on the US-China trade negotiations, Francis Lun, CEO of GEO Securities, says that it is stupid for the world's two biggest economies to carry on a trade war for two years, and that President Trump finally realises that it is the Americans who are paying the tariffs and not the Chinese.
Mark Michelson, Chairman of the Asia CEO Forum at IMA Asia, comments that the drop in Shenzhen's economic growth comes at an unfortunate time when the Greater Bay Area is being promoted and amid the regional and global economic slowdown.
08/11/2019 - 8:22 Hong Kong FinTech Week