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") .
China’s National People’s Congress has approved the proposal to impose national security legislation on Hong Kong. The resolution will now be passed to the NPC Standing Committee, China’s top legislative body, to craft the bill in detail over the course of June. The United States, UK, Australia and Canada issued a joint statement condemning the new law which they said would "curtail Hong Kong people's liberties and dramatically erode Hong Kong's autonomy and the system that made it so prosperous." Britain said it will give greater visa rights to British national overseas passport holders from Hong Kong unless China suspends its proposed security laws, opening the door to UK citizenship for over 300,000 Hong Kong residents. China’s Premier Li Keqiang warned yesterday that China cannot be immune from the global economic slowdown brought about by the Covid-19 pandemic, but he said the “forceful” economic stimulus will support jobs and people’s livelihoods and encourage domestic consumption. On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Anthony Chan from Union Bancaire Privee. With a view from Australia is Toby Lawson at Societe Generale Australia.
29/05/2020 - 8:08am Business and Market Discussion
Francis Lun, CEO of GEO Securities says that US President Donald Trump's administration will need to be very cautious when dealing with Hong Kong as it could impact the 85,000 US citizens and 800 American companies with Asian HQ's in Hong Kong. He highlights that China's priority remains political stability, above economic considerations.
Anthony Chan, Chief Asia Investment Strategist at UBP predicts the US will take targeted actions against China, such as imposing sanctions on identified individuals.
29/05/2020 - 8:24am View from Australia
US jobless claims surged last week as the coronavirus pandemic shut businesses across America. The number of people filing for unemployment benefits jumped by a record breaking 3.3 million people from 282,000 the previous week.
Singapore's GDP growth tumbled by an annualised 10.6% in the first quarter of 2020 from the previous quarter, the sharpest drop in more than a decade. The city state downgraded its 2020 GDP growth forecast to between minus 4% and minus 1%.
Singapore has tapped into its reserves for only the second time in history and announced a massive S$48 billion (US$33.7 billion) stimulus plan to combat the economic impact of the Covid-19 pandemic. Combined with the measures announced in the budget it brings the total fiscal boost to S$55 billion, or 11% of GDP.
Hong Kong’s Census and Statistics Department reported yesterday exports from the territory slumped 12% in the first two months of the year. Imports fell by 9.3% leaving a trade deficit of HK$69.1 billion in the two-month period.
Joining us on today’s Money Talk are Francis Lun of GEO Securities and Kenny Wen from Everbright Sun Hung Kai. With the view from Australia is Toby Lawson at Societe Generale Australia.
27/03/2020 - 8:08am Business and Market Discussion
Francis Lun, CEO of GEO Securities says that both Hong Kong and Mainland China should expect further economic contraction with as much as negative 10% growth, quarter-on-quarter.
Kenny Wen, Wealth Management Strategist at Everbright Sun Hung Kai highlights that the world economy is more likely to see a U-shaped recovery, as he forecasts a lengthy process of returning to normalcy.