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 global equity market selloff continued into Asian trading on Tuesday, but US stocks snapped a four-day losing streak. US shares are on track for their first monthly loss since March. Banks have come under pressure after accusations that several global banks, including HSBC and Standard Chartered, have allowed illicit international payments amounting to US$2 trillion in total, to flow through their accounts, despite being warned that they were suspicious. A sell-off in shares of HSBC and Standard Chartered deepened yesterday in Hong Kong, taking their losses to more than 7% over two days.
23/09/2020 - 8:08am Business and Market Discussion
Andrew Freris, CEO of Ecognosis Advisory says that the Hong Kong government should do more to support the local economy as the territory's fiscal reserves remain robust and could even withstand a deficit.
Patrick Bennett, Macro Strategist at CIBC World Markets highlights that accommodative monetary and fiscal policies help to maintain higher asset prices but it is not having the same impact on consumer spending.
RTHK's International Economics Correspondent Barry Wood warns that decentralisation prevents the US from containing the Covid-19 pandemic as individual states can implement measures at their own discretion.
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