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 email@example.com, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
In a widely expected move, China has cut its reference lending rate, the Loan Prime Rate. The 1-year rate was lowered by 10bps to 4.05%. The 5-year tenor, against which mortgage rates are benchmarked, was cut by 5bps to 4.75%. China's overall credit surged in January, with new bank loans hitting an all-time high. Total social financing, the broadest measure of credit in the economy was 5.07 trillion yuan in January, the largest print since the central bank started publishing this data in 2017. The latest analysis from Oxford Economics shows the coronavirus outbreak could cost the global economy $1.1tn in lost income if it spreads into a pandemic.The economic forecaster warned that the spread of the virus to regions outside Asia would knock 1.3% off global growth this year. On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Kenny Wen at Everbright Sun Hung Kai. With the view from Australia is Toby Lawson from Societe Generale.
21/02/2020 - 8:09am Business and Market Discussion
Francis Lun, CEO of GEO Securities doesn't think that the PBOC's move to reduce China's benchmark 1-year loan prime rate by 10 basis points will have a major impact on the economy but he warns that factory closures are starting to have far reaching effects.
Kenny Wen, Wealth Management Strategist at Everbright Sun Hung Kai forecasts more interest rate cuts in China as the currently struggling SME's remain crucial to the nation's economy.
21/02/2020 - 8:25am View from Australia
Landlords across Hong Kong are slashing rents in response to Finance Secretary Paul Chan’s request for the city’s biggest property developers to “fulfil their social responsibilities” to support businesses and prevent job losses. US prosecutors have accused Chinese telecoms giant Huawei of stealing technology from six unnamed American companies. The US Department of Justice has already accused the company of stealing technology from T-Mobile and breaking US sanctions on Iran and it said yesterday it was widening the indictment to include the new charges. Britain's Finance Minister has resigned after Prime Minister Boris Johnston ordered him to fire his entire team of advisors. Sajid Javid stood down as chancellor of the exchequer just one month before the budget and was immediately replaced by senior Treasury official Rishi Sunak. Our guests on today’s Money Talk are Francis Lun of GEO Securities and Louis Kuijs from Oxford Economics. With the view from Australia is Toby Lawson at Societe Generale Australia.
14/02/2020 - 8:08am Business and Market Discussion
Francis Lun, CEO of GEO Securities warns of the inconsistency between US & European stock markets at record highs and the impact of the COVID-19 coronavirus, saying that markets have been reacting too positively.
Luis Kuijs, Head of Asia Economics at Oxford Economics, believes that the work from home measures implemented by Chinese companies could last beyond the crisis, as companies see the benefits of digital working.
14/02/2020 - 8:23am View from Australia