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") .
Good morning. The European Central Bank has expanded its bond buying programme by €600bn taking it to €1.35 trillion and extended its duration until 2021 to support the eurozone economy, which is facing its biggest recession since World War Two. The ECB also held interest rates at a record low of minus 0.5%. The latest employment data from the US showed 1.9 million Americans filed for unemployment benefits in the past week, taking the total number of jobless claims since lockdowns across the country began to 43 million. But the rate of new claims is below 2 million for the first time in 11 weeks. Continuing claims, which is a gauge of ongoing unemployment, edged up to 21.5 million, accounting for 14.8% of the workforce. US exports and imports both posted their largest monthly decreases on record and the trade deficit widened because of Covid-19 lockdowns around the world. Imports into the United States dropped 13.7% in April and exports fell 20.5%. The trade deficit widened 16.7% to US$49.4 billion. China has said it will loosen restrictions on international air travel after the US threatened to ban passenger flights from China. Starting on June 8, foreign carriers can fly once a week to a Chinese city of their choosing that is capable of handling overseas arrivals. UK car sales fell by 90% last month as showrooms across the country were and were brought to a standstill. Just over 20,000 new cars were sold in May, compared to almost 184,000 a year earlier. On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Nitin Dialdas from Mandarin Capital. With a view from Australia is Toby Lawson at Societe Generale Australia.
05/06/2020 - 8:08am Business and Market Discussion
Francis Lun, CEO of GEO Securities says that Hong Kong's economic recovery can only succeed once tourists are back, something that could take a long time even after the travel ban gets lifted.
Nitin Dialdas, Chief Investment Officer at Mandarin Capital stresses that companies should remain politically neutral and sees the coerced politicisation of Hong Kong-based finance firms as setting a bad
05/06/2020 - 8:24am View from Australia
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