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") .
Shares in the IPO for Saudi Aramco have been priced at 32 riyals (US$8.53) each, the top end of the share price range offered to investors. It’s the world's biggest IPO, raising US$25.6bn and valuing the state-owned oil producer at US$1.7tn.
The Reserve Bank of India has surprised markets by leaving interest rates on hold at 5.15%. Investors had expected the central bank to lower its key interest rate after India's economic growth fell to 4.5% in September, the slowest pace in more than six years.
Japan's government has announced a 26 trillion yen (US$239 billion) stimulus package to try and boost the economy. The package is equivalent to 4.5% of GDP.
Australian exports fell 5% in October because of lower commodity prices and the country’s trade surplus shrank by a third. Retail sales were flat defying economists' expectations for a 0.3% gain.
Our guests on today’s Money Talk are Francis Lun of GEO Securities and Andrew Sullivan at Pearl Bridge Partners. On the phone from Sydney is Toby Lawson from Societe Generale Australia.
06/12/2019 - 8.07am Business and Market Discussions
Francis Lun, CEO of GEO Securities said that China cannot afford another round of tariffs imposed on its exports as it will further damage China’s economy, so he anticipates trade talks with the US to continue.
Andrew Sullivan, Director of Pearl Bridge Partners (PBP) comments that the latest relief measures announced by Hong Kong’s Financial Secretary won’t help the economy as they don’t deal with the underlying causes of the protests.
06/12/2019 - 8.25am View from Australia
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