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 firstname.lastname@example.org, 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
The World Health Organization warned yesterday that countries which have relaxed lockdown measures have seen a spike in coronavirus cases. In China there has been a new outbreak in Wuhan. South Korea, Japan and Singapore also confirmed new cases of locally transmitted infections.
The latest data from the mainland showed that Total Social Financing, a broad measure of credit in the economy, rose to 3.09 trillion yuan in April and banks extended 1.7 trillion yuan in new loans in April easily exceeding estimates.
The Hong Kong government has warned that Ocean Park will run out of cash next month and go bankrupt unless it receives an urgent HK$5.4 billion bailout. Secretary for Commerce and Economic Development Edward Yau said the funding is needed to make sure it can survive the coming 12 months, whilst the theme park develops a new strategic plan.
Meanwhile, Shanghai Disneyland reopened yesterday, after being closed for three months during the Covid-19 pandemic. The park is restricting visitor numbers to 20% of daily capacity, or about 16,000 people, all of whom must wear face masks and maintain social distancing requirements as well as showing a green health code on their mobile phones before being allowed in.
On today’s Money Talk, we’re joined by Connie Bolland of Economic Research Analysis and Alex Frew McMillan, writer at Dragonfly Media. With an update on frontier markets is Ruchir Desai, Fund Manager at Asia Frontier Capital.
12/05/2020 - Business and Market Discussion
Alex Frew McMillan, writer at Dragonfly Media says that the PBOC is sceptical about introducing “flood stimulus” to its economy, and is acting differently from other central banks.
Connie Bolland, Founder and Chief Economist at Economic Research Analysis is of the view that Ocean Park may not be profitable even once tourists come back, adding that is has stiff competition from other theme parks in the region.
12/05/2020 - Frontier Markets