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") .
Hong Kong has tightened again its social distancing measures following concerns over a new wave of locally transmitted cases. Restaurants will be limited to eight places per table and four people at tables in bars from Saturday, and the total number of customers has been restricted to 60% of maximum capacity.
In Australia, five million people in Melbourne have been barred from leaving their homes for the next six weeks, except for essential reasons. The lockdown was announced after the state saw the highest daily number of new infections since the pandemic began.
Australia has become the latest country to suspend its extradition treaty with Hong Kong because of the national security law. Australia will also extend visas for Hong Kong residents already in the country to five years and provide a pathway to citizenship.
Consumer prices in China rose by 2.5% in June year-on-year, compared to 2.4% in May. It’s the first time the CPI has increased this year. The producer price index, which measures the cost of goods as they leave the factory gate, fell 3% y/y.
On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Ian Hui at JP Morgan Asset Management. With a view from Australia is Toby Lawson from Societe Generale Australia.
10/07/2020 - 8:09am Business and Market Discussion
Francis Lun, CEO of GEO Securities says that the Chinese government's recent cheerleading of the market is aimed at boosting the economy and give optimism to investors, in times of increasing tensions with other nations.
Ian Hui, Global Market Strategist at JP Morgan Asset Management highlights that the Hong Kong markets are partially mirroring mainland ones, as IT stocks become increasingly popular.
10/07/2020 - 8:23am View from Australia
Economic activity has partially resumed across the mainland of China as new cases of the coronavirus (now known as Covid-19) outside of Hubei drop for 7 consecutive days. However, Chinese officials remain cautious in concluding whether the epidemic is under control and The World Health Organisation warned that Covid-19 was a "very grave threat" for the rest of the world. Federal Reserve Chairman Jerome Powell warned that the coronavirus outbreak could spill over to the rest of the global economy. He told the House financial services committee yesterday that it could lead to a material reassessment of the outlook for the US economy. The US Federal Trade Commission has expanded its investigation into big tech companies. The agency ordered Alphabet, Amazon, Apple, Facebook and Microsoft to provide detailed information into their takeover of smaller companies between 2010 and 2019. On today’s Money Talk, we’re joined by Stewart Aldcroft of CitiTrust, Iris Pang from ING Wholesale Banking and RTHK’s International Economics Correspondent, Barry Wood.
12/02/2020 - 8:08am Business and Market Discussion
Stewart Aldcroft, Chairman of CitiTrust, expects the coronavirus' economic impact to be limited to Asia, unless we see major community outbreaks in other parts of the world.
Iris Pang, Greater China Economist at ING says that although the Chinese government has allowed some factories to resume production, operations are unlikely to return to normal soon and she predicts first quarter GDP in China to drop to 5%.
Barry Wood, RTHK's International Economics Correspondent highlights that in spite of the disruption to supply chains, the global economy and the US in particular, hasn’t been impacted.