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 tightened again its social distancing measures following concerns over a new wave of locally transmitted cases. Restaurants will be limited to eight places per table and four people at tables in bars from Saturday, and the total number of customers has been restricted to 60% of maximum capacity.
In Australia, five million people in Melbourne have been barred from leaving their homes for the next six weeks, except for essential reasons. The lockdown was announced after the state saw the highest daily number of new infections since the pandemic began.
Australia has become the latest country to suspend its extradition treaty with Hong Kong because of the national security law. Australia will also extend visas for Hong Kong residents already in the country to five years and provide a pathway to citizenship.
Consumer prices in China rose by 2.5% in June year-on-year, compared to 2.4% in May. It’s the first time the CPI has increased this year. The producer price index, which measures the cost of goods as they leave the factory gate, fell 3% y/y.
On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Ian Hui at JP Morgan Asset Management. With a view from Australia is Toby Lawson from Societe Generale Australia.
10/07/2020 - 8:09am Business and Market Discussion
Francis Lun, CEO of GEO Securities says that the Chinese government's recent cheerleading of the market is aimed at boosting the economy and give optimism to investors, in times of increasing tensions with other nations.
Ian Hui, Global Market Strategist at JP Morgan Asset Management highlights that the Hong Kong markets are partially mirroring mainland ones, as IT stocks become increasingly popular.
10/07/2020 - 8:23am View from Australia
The siege of Hong Kong’s Polytechnic University has entered a fourth day with around 60 to 100 protesters remaining in the building. Protesters are calling for further demonstrations today and plan to block roads and disrupt rail services across the city. In the US, the Senate has unanimously passed the Hong Kong Human Rights and Democracy Act, in a bipartisan show of support for the protestors.
President Trump has threatened higher tariffs if China doesn’t soon reach a Phase 1 trade deal with the US. Speaking at yesterday’s cabinet meeting he said, “if we don’t make a deal with China, I’ll just raise the tariffs even higher.”
Alibaba’s secondary listing in Hong Kong is almost 3 times oversubscribed. The shares begin trading on Tuesday and brokers will close the books half a day early due to the success of the subscription process.
UK shadow chancellor John McDonnell said workers and consumers would "take back control" under a new business model if Labour wins the election. He said company boards would include workers to give them greater influence over pay structure. Public sector chief executives would not be allowed to earn more than 20 times someone on the living wage.
On today’s Money Talk our guests are Stewart Aldcroft of CitiTrust, Tariq Dennison at GFM Asset Management and RTHK’s International Economics Correspondent, Barry Wood.
20/11/2019 - 8:08 Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, comments that the passage of the Hong Kong Human Rights and Democracy Act is unlikely to affect the trade talks with the US as both sides want a deal.
Tariq Dennison, Portfolio Manager at GFM Asset Management, says that the performance of Hong Kong’s stock market has been very good considering the situation in Hong Kong and he sees few sign of capital flight for now.
RTHK’s International Economics Correspondent Barry Wood comments that both the US business community and China do not want the tariff increase due in mid-December to take effect.