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") .
President Trump has signed into law the Hong Kong Autonomy Act that will sanction Chinese officials involved in imposing the national security law on the territory. The President also said that he signed an executive order ending Hong Kong’s preferential trade status with the US.
The UK government has told its mobile phone providers that they will be banned from buying new Huawei 5G equipment after 31 December, and they must also remove all the Chinese firm's 5G kit from their networks by 2027. The move, which will delay the country’s 5G rollout by a year, follows sanctions imposed by Washington, which claims the firm poses a national security threat, something Huawei denies.
Singapore's economy shrank 12.6% on the year in the second quarter because of Covid-19 containment measures which led to widespread business closures. On a quarterly basis, GDP plunged by a record 41.2%, putting the country in a technical recession.
The latest trade data from China showed exports and imports unexpectedly rose in June. Exports climbed 0.5% in dollar terms compared to June 2019, while imports rose 2.7%.
On today’s Money Talk, we’re joined by Stewart Aldcroft of CitiTrust, Tariq Dennison at GFM Asset Management and RTHK’s International Economics Correspondent Barry Wood in Washington, D.C.
15/07/2020 - 8:09am Business and Market Discussion
Stewart Aldcroft, Chairman of CitiTrust reminds us that Hong Kong's attractiveness lies in the access its financial system gives to the region, something that could be jeopardised with the US formally ending the city's special trade status.
Tariq Dennison, Portfolio Manager at GFM Asset Management doesn't think that the national security law has pushed Hong Kong-based companies to relocate staff elsewhere, highlighting that most relocations were planned before the law was implemented.
Barry Wood, RTHK's International Economics Correspondent in Washington, D.C. isn't surprised to see Tesla's share price surge while other auto-makers struggle, as Elon Musk's flagship brand remains tech focused.
US stock index futures, Asian stocks and government bond yields have plunged Monday morning on worries about the economic impact of the Covid-19 epidemic. The number of global infections is close to 110,000 and fatalities over 3,800. Italy saw a big jump in infections and deaths over the weekend and the Italian government has locked down the Milan region and 11 other provinces, affecting a quarter of the country’s population. The Lombardia region accounts for a fifth of Italy’s economic output. Oil prices plunged about 10% on Friday and then crashed more than 20% Monday morning, after Russia rejected a proposal by Opec countries for an additional 1.5 million barrels per day of production cuts, reducing global supply by 3.6%. Following the collapse of the deal, Saudi Arabia now plans a big output hike and will begin an all-out price war. China’s exports fell 17.2% in January and February from a year earlier. Imports were more resilient declining 4%. China posted a trade deficit of US$7.1bn in the first two months of the year but still recorded a US$25.4 billion trade surplus with the US for the first two months of the year. On today’s Money Talk, we’re joined by Alex Wong from Ample Capital and Wendy Liu of UBS Investment Research. We also talk to Fern Ngai from Community Business about International Women’s Day yesterday and the progress, or lack of, in Hong Kong towards gender equality.
09/03/2020 - 8:09am Business and Market Discussion
Alex Wong, Director of Asset Management at Ample Capital says that banking and resources stocks will be badly affected by the crash in the price of crude oil.
Wendy Liu, Head of China Strategy and Chief China Strategist at UBS Investment Research worries that the impact of the epidemic on China's economy may repeat on a global scale, something that would have far reaching consequences for world markets.
09/03/2020 - 8:24am Gender diversity in Hong Kong firms