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 International Monetary Fund has warned of “dire scenarios” for the global economy as concerns mount about the spread of the Covid-19 virus globally. In South Korea the number of infections nearly tripled over the weekend to 602, with six deaths. The new cases include a Samsung Electronics employee at its smartphone factory in the south eastern city of Gumi, resulting in a complete shutdown of the entire plant.
Business activity in the US has fallen into contraction for only the second time since the global financial crisis. The IHS Flash Composite PMI dropped to 49.6 in February, the lowest level since October 2013. The Services Flash PMI also tumbled into contraction falling to a 76-month low of 49.4.
Hong Kong’s Financial Secretary Paul Chan has warned that the government's resources are limited and his budget on Wednesday won’t please everybody. On Friday, lawmakers approved a HK$30 billion coronavirus relief package, with more than half of the funding being used to provide one-off cash injections to businesses harmed by the outbreak. But several legislators have called for cash handouts for every resident.
On today’s Money Talk, Alex Wong from Ample Capital and Pete Sweeney, of Reuters BreakingViews, join us. With the view from the Mainland is Yanan Wu, Chairman of Zhen Rong Bao.
24/02/2020 - 8:09 Business and Market Discussion
Alex Wong, Director of Asset Management at Ample Capital says we should revise down expectations for global growth, as concerns escalate that the COVID-19 coronavirus is spreading overseas and turning into a pandemic.
Pete Sweeney of Reuters BreakingViews says that pent-up demand on the Mainland is not that likely, as Chinese consumers may be reluctant to go outside even after the epidemic gets under control.
24/02/2020 - 8:23 View from China
The death toll from the China coronavirus outbreak has risen to 106, and the number of people infected has jumped to close to 4,700. Most of the fatalities are in Wuhan and the surrounding province of Hubei, the outbreak’s epicentre.
Hong Kong Chief Executive Carrie Lam said that rail and ferry services to the mainland would be suspended from tomorrow and the number of flights would be halved. Several border checkpoints will be closed but the flow of goods will not be interrupted.
The Shanghai government and the Guangdong provincial authorities have ordered companies in their regions not to resume operations before February 9. The Shanghai and Shenzhen Stock Exchanges will delay the reopening of the A-share market until Monday.
The US Federal Reserve will wrap up its first monetary policy meeting of the year later today. President Trump tweeted that “the Fed should get smart and lower the rate to make our interest competitive with other countries which pay much lower.”
On today’s Money we’re joined by Khiem Do at Baring Asset Management, Will Denyer from Gavekal and on the phone from Washington D.C., RTHK’s International Economics Correspondent, Barry Wood.
29/01/2020 - 8.09am Business and Market Discussion
Khiem Do, Head of Greater China Investments at Baring Asset Management warns of a strong fall in economic activity in the retail and services sector, as citizens fear to go outside.
Will Denyer, US Economist at Gavekal says that the coronavirus' impact on the world economy remains minor for now but a worldwide spread of infections could see a stronger market reaction.
Barry Wood, RTHK's US Correspondent, observed that Tuesday's market rally reflects investors' optimism, as China's drastic containment measures boosts confidence.