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 email@example.com, 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
Ahead of the signing of the Phase 1 trade deal, expected tomorrow, the United States will remove China from its list of countries considered currency manipulators. The decision comes more than five months after the Treasury formally made the designation.
Hong Kong Chief Executive Carrie Lam said yesterday that the city’s financial strengths remain intact despite months of pro-democracy protests. She said she was confident that the SAR would heal its divisions and see a “flourishing” economy once again.Hong Kong’s government has unveiled a HK$10.64 billion plan to bail out the financially strapped Ocean Park. The expansion plan will create seven zones and 20 new attractions over the next seven years based on nature and conservation.
China's car sales fell 8.2% in 2019 according to the China Association of Automobile Manufacturers. NEV sales dropped 4% last year. And Ford said its China sales fell for the third year in a row in 2019, dropping to less than half of what it sold at its peak in 2016.
On today’s Money Talk we’re joined by Connie Bolland at Economic Research Analysis and Ian Hui from JP Morgan Asset Management. On the phone from Tokyo with the view from Japan is journalist & author, William Pesek.
14/01/2020 - 8:10am Business and Market Discussions
Connie Bolland, Founder and Chief Economist at Economic Research Analysis, highlighted that although the first phase of the trade agreement may provide some relief to both sides, uncertainty will remain high as the US is yet to announce its long term plans.
Ian Hui, Global Market Strategist at JP Morgan Asset Management thinks that despite the ongoing unrest, Hong Kong as a financial centre still remains valuable to both China and the world.
14/01/2020 - 8:24am View from Japan