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 said yesterday that Hong Kong's global financial centre will "go to hell" and nobody will do business under tightened mainland rule. He told Fox News, “Hong Kong can never succeed having China (run it) as opposed to the thousands of geniuses that ran it.”
US Secretary of State Mike Pompeo said that President Trump’s executive orders against TikTok and WeChat could be expanded to more just those two apps. He also suggested the action could also be taken against parent companies ByteDance and Tencent.
US and Chinese negotiators will meet online in the coming days to discuss the progress of the Phase 1 trade deal. Beijing is believed to be pushing to widen the agenda to include Washington’s ban on apps from technology firms ByteDance and Tencent.
The latest survey from the American Chamber of Commerce on the impact of the national security law, reveals that almost 40% of respondents are considering moving capital, assets, or operations out of Hong Kong. They said the law’s ambiguity and the loss of Hong Kong’s special trade status were key reasons for leaving Hong Kong.
On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Quentin Webb from the Wall Street Journal. With a view from Australia is Toby Lawson at Societe Generale in Sydney.
14/08/2020 - 8:08am Business and Market Discussion
Francis Lun, CEO of GEO Securities disagrees with US President Donald Trump's claims that Hong Kong's financial centre would "go to hell" under Chinese rule, as newly listed Chinese tech firms are boosting the local market and more are to come.
Quentin Webb, Asia Markets Editor at the Wall Street Journal holds the view that in spite of the national security law, Hong Kong will still have a global role to play as long as China doesn't fully liberalize its economy.
14/08/2020 - 8:24am View from Australia
US stocks and oil prices have stabilised following Monday’s heavy losses. President Trump has promised a “major” economic relief package. White House officials said Mr. Trump pitched a 0% payroll tax that would last for the rest of this year, in a meeting with Republican lawmakers. Saudi Arabia said yesterday it would increase its oil production to a record 12.3m barrels a day from April. That’s over 2.5m barrels a day more than what it currently produces and represents a dramatic escalation of the price war following the collapse of the agreement between Opec and non-opec oil producing nations. Inflation in China in February came in line with expectations. The Consumer Price Index rose 5.2% y/y, down from 5.4% the previous month. However, food prices continued to soar, climbing 21.9%, the most since April 2008. Pork prices jumped 135.2%. Factory prices returned to deflation. The Producer Price Index fell 0.4% y/y compared to an expected 0.3% drop and a 0.1% rise in January. On today’s Money Talk we’re joined by Stewart Aldcroft of CitiTrust, David Roche at Independent Strategy and over in Washington D.C., RTHK’s International Economics Correspondent, Barry Wood.
11/03/2020 - 8:08am Business and Market Discussion
Stewart Aldcroft says that Russia will be the most impacted by the crash in oil prices, as the oil & gas industry represents over 70 % of the country's total exports.
David Roche, President and Global Strategist at Independent Strategy highlights that the numbers of COVID-19 coronavirus cases in the US are likely to be under-reported, as the country doesn't have enough testing kits.
Barry Wood, RTHK's International Economics Correspondent believes that relief measures for the US travel industry are inevitable, and the ongoing epidemic could bring the already troubled American airlines sector to the verge of collapse.