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
The Hong Kong government has imposed sweeping new social distancing rules to fight the latest surge in Covid-19 infections in the city. From tomorrow, 12 types of venues, including bars, cinemas, and gyms, will be closed for up to seven days, and the number of people allowed to gather will be reduced sharply from 50 to four. The new restrictions come as the total number of cases in Hong Kong rose by another 52 yesterday.
A survey by the American Chamber of Commerce in Hong Kong found that just over half the respondents are considering personally leaving Hong Kong in the short to medium term due to concerns about the new national security law. But over 64% of respondents said their companies have no plans to leave despite almost two-third of the companies polled saying they were negative about the impact of NSL on Hong Kong’s business prospects
Chinese automobile production and sales continued to improve in June. The China Passenger Car Association reported production hit 2.3 million, rising 6.3% from May and gaining 11.6% compared to a year ago. Sales hit 2.3 million, which was a 4.8% month-on-month increase and an 11.6% increase over the year.
On today’s Money Talk, we’re joined by Le Xia of BBVA Research and Kenny Wen from Everbright Sun Hung Kai. With a view from Japan is Nick Smith at CLSA in Tokyo.
14/07/2020 - 8:08am Business and Market Discussion
Le Xia, Asia Chief Economist at BBVA Research expects China's economic growth to reach 2.2% in Q2 but he warns that its economy will remain impacted by the recession in other countries.
Kenny Wen, Wealth Management Strategist at Everbright Sun Hung Kai highlights that keeping equity markets stable remains one of China's top priorities.
14/07/2020 - 8:24am View from Japan