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") .
New applications for US unemployment benefits fell to 1.2m last week from 1.4m the previous week, the lowest level since the pandemic started to spread across the US in March. But more than 16m Americans continue to collect benefits, equivalent to 11% of the workforce.
The FT is reporting that Microsoft is now exploring whether to buy all of TikTok’s global business, including the video app’s operations in India and Europe as well as the original target of its operations in the US, Canada, Australia and New Zealand. TikTok does not operate in China, and such a deal would not extend to its China-facing sister app Douyin.
Australian Prime Minister Scott Morrison warned Thursday that the lockdown across Victoria state will cut Australia’s GDP by 2.5% in this quarter. He also estimated the unemployment rate was likely to peak around 10%.
On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Kenny Wen from Everbright Sun Hung Kai. With a view from Australia is Toby Lawson at Societe Generale Australia.
07/08/2020 - 8:08am Business and Market Discussion
Francis Lun, CEO of GEO Securities says that HSBC may have to split its operations into two as the ongoing China-US tensions could make it difficult for the banking giant to comply with government restrictions and sanctions.
Kenny Wen, Wealth Management Strategist at Everbright Sun Hung Kai doesn’t think that the ongoing US-China tech war will have an impact on Hong Kong stocks as they remain largely liquidity driven.
07/08/2020 - 8:24am View from Australia
Hong Kong has tightened again its social distancing measures following concerns over a new wave of locally transmitted cases. Restaurants will be limited to eight places per table and four people at tables in bars from Saturday, and the total number of customers has been restricted to 60% of maximum capacity.
In Australia, five million people in Melbourne have been barred from leaving their homes for the next six weeks, except for essential reasons. The lockdown was announced after the state saw the highest daily number of new infections since the pandemic began.
Australia has become the latest country to suspend its extradition treaty with Hong Kong because of the national security law. Australia will also extend visas for Hong Kong residents already in the country to five years and provide a pathway to citizenship.
Consumer prices in China rose by 2.5% in June year-on-year, compared to 2.4% in May. It’s the first time the CPI has increased this year. The producer price index, which measures the cost of goods as they leave the factory gate, fell 3% y/y.
On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Ian Hui at JP Morgan Asset Management. With a view from Australia is Toby Lawson from Societe Generale Australia.
10/07/2020 - 8:09am Business and Market Discussion
Francis Lun, CEO of GEO Securities says that the Chinese government's recent cheerleading of the market is aimed at boosting the economy and give optimism to investors, in times of increasing tensions with other nations.
Ian Hui, Global Market Strategist at JP Morgan Asset Management highlights that the Hong Kong markets are partially mirroring mainland ones, as IT stocks become increasingly popular.
10/07/2020 - 8:23am View from Australia