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") .
After a postponement of more than a month, Hong Kong’s chief executive Carrie Lam delivered her annual policy address yesterday, which lasted a record-breaking 2 and a quarter hours, setting out plans for the coming year before a Legislative Council which contained no opposition lawmakers. She pledged to double government efforts to bring the Covid-19 epidemic under control, revive the economy, and restore social order. A major theme of the address was integration with the mainland, and she launched a HK$430 million Greater Bay Area Youth Employment Scheme. She urged Hong Kong young people to look north to “broaden the scope for realizing their dreams” warning that Hong Kong may not be the best place for its youth.
26/11/2020 - 8:07am Policy address review
Personal Wealth Advisor Enzio von Pfeil, expects Hong Kong's role in the Greater Bay Area to be that of a suburb, as Chief Executive Carrie Lam's administration doesn't have a convincing innovation plan.
Ben Quinlan, CEO and Managing Partner at Quinlan & Associates, supports Greater Bay Area integration reforms but says that Mrs. Lam's policy address fails to address local problems.
26/11/2020 - 8:23am China equity strategy
Good morning. Global stocks have staged a recovery after the People’s Bank of China rolled out stimulus measures for the second day in a row and investors bet that the impact of the coronavirus on the global economy could be contained. The PBOC injected 500 billion yuan of liquidity into the banking system, the most amount of money in a year, and set the daily yuan fixing above 7 per US dollar. Hong Kong’s retail sales have slumped for an 11th straight month. Retail sales fell 19.4% in value in December, the longest run of declines since 2016. Property transactions in Hong Kong have fallen to a 12-month low. The Land Registry reported that the value of sales dropped 17% in January to HK$29 billion. The number of new flats built in 2019 dropped 35% to just 13,600, the lowest since 2015. Hong Kong’s Cathay Pacific Airways is to cut 90% of its mainland China services as it battles a slump in sales due to the spreading coronavirus. Passenger numbers are reported to have dropped by 50% in the past few days. CEO, Augustus Tang, said yesterday the airline will reduce its overall flight capacity by 30%. On today’s Money Talk we’re joined by John Schofield from Apastron Investment, Ian Hui at JP Morgan Asset Management and RTHK’s International Economics Correspondent, Barry Wood.
05/02/2020 - 8:09am Business and Market Discussion
Ian Hui, Global Market Strategist at JP Morgan Asset Management expects that the Chinese government will take more action to stabilize the economy in wake of the coronavirus outbreak.
John Schofield, Executive Director at Apastron Investment predicts a quick rebound in China's economy as the underlying fundamentals remain strong.
Barry Wood, RTHK's International Economics Correspondent in Washington D.C. highlights the disconnect between the equity markets and the real economy and real world, with the Nasdaq at a record high.