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") .
The Chinese city of Wuhan, the centre of a deadly virus outbreak that has killed 17 people and infected more than 400, will suspend public transport from 10:00 am today. Those living in the city have been told not to leave, and the airport and train stations will be closed to outgoing passengers. Bus, subway, ferry, and long-distance transport networks will be temporarily shut. President Trump has ended his trip to the World Economic Forum in Davos saying Europe has no choice but to make a trade deal with the US. In a news conference before leaving Switzerland he said he hoped to clinch a trade agreement with Europe before the 2020 presidential election. He also promised an overhaul of the World Trade Organization. Also speaking at Davos, Hong Kong Chief Executive Carrie Lam promoted Hong Kong as a regional I&T hub with an important role in the Greater Bay Area. She also said she was “facing a lot of pressure” to tighten control of the press and journalists in light of the seven months of social unrest. US Treasury Secretary Steven Mnuchin warned that countries who introduced a digital tax could “find themselves faced with President Trump’s tariffs.” But UK Chancellor of the Exchequer Sajid Javid said Britain will go ahead with its digital services tax in April. On today’s Money Talk we discuss the day’s business headlines with Enzio von Pfeil from St James’s Place and Karine Hirn at East Capital. With the view from Taiwan is political risk consultant Ross Feingold.
23/01/2020 - 8:08am Business and Market Discussion
Enzio von Pfeil, Associate Partner & Private Wealth Adviser at St James's Place says that the impact of the Wuhan virus on the economy could be higher than that of the SARS crisis in 2003, since consumption amounts to a larger portion of the Chinese economy now.
Karine Hirn, Partner at East Capital highlights that the Moody’s downgrade of Hong Kong was expected because of the questioning over the way the crisis is being handled.
23/01/2020 - 8:25am View from Taiwan
President Trump said he will reimpose tariffs on the export of steel and aluminium from Brazil and Argentina. He accused the two countries of a massive currency devaluation which was hurting US farmers. Commerce Secretary Wilbur Ross said yesterday that time is running out for the US and China to agree on a trade deal before December 15, when the US is set to impose an additional 15% tariff on around US$156 billion worth of Chinese goods.
Retail sales in Hong Kong slumped by the most on record in October, declining 24.3% y/y. Financial Secretary Paul Chan said that the six months of turmoil has subtracted some 2% from economic growth. He predicted the territory’s government is likely to see its first fiscal deficit in 15 years.
Financially troubled Hong Kong Airlines could be grounded within a few days unless it can find a new cash injection. The Air Transport Licensing Authority could revoke or suspend its operating permit and will announce its decision by December 7.
Manufacturing in the private sector in China expanded for the fourth month in a row and hit its fastest pace in three years in November. The Caixin Markit Manufacturing Purchasing Managers' Index rose to 51.8, up from 51.7 in the previous month.
On today’s Money Talk we’re joined by Louis Kuijs of Oxford Economics and Anthony Chan from Union Bancaire Privee. Providing the view from Japan is Tokyo-based journalist & author, William Pesek.
03/12/2019 - 8.08am Business and Market Discussions
Louis Kuijs, Head of Asia Economics at Oxford Economics expects the fall in Hong Kong retail sales and the economy to worsen , because of the sharp drop in tourist numbers.
Anthony Chan, Chief Asia Investment Strategist at Union Bancaire Privee suggests that the Hong Kong government offer incentives to small firms that are affected by the recession in Hong Kong.
03/12/2019 - 8.23 am View from Japan