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") .
Hong Kong Financial Secretary Paul Chan announced yesterday a budget to stabilise the economy, containing HK$120bn of counter cyclical measures. But the level of sweeteners at HK$80 billion this year, is 33% lower than last year’s HK$120 billion. The budget deficit is forecast to be a record HK$257.6 billion this year. That’s less than the government’s previous forecast of HK$300bn.
25/02/2021 - 8:08am Business and Market Discussion
Personal Wealth Advisor, Enzio von Pfeil, thinks that the measures contained in Hong Kong’s 2021-22 budget are "band-aids" but not a real cure for an economy affected by the pandemic.
Samuel Faveur Chief Executive Officer at Mandarin Capital laments that the budget is not efficient enough as the measures introduced lean towards corporates and is rather weak on the social aspect.
Kenneth Wong, Tax Partner at PwC Hong Kong thinks that the new unemployment loan scheme is unlikely to work and believes that more follow up plans and execution detail will be needed.
President Trump has dropped his opposition to Microsoft buying video sharing app Tik Tok. The app which is owned by Chinese internet giant ByteDance will be shut down if an American buyer isn’t found by September 15. But Mr. Trump said the US Treasury should get a large portion of the purchase price “because we’re making it possible for this deal to happen.”
The Caixin survey of manufacturing in China showed activity among smaller private companies improved in July. The Caixin manufacturing PMI rose to 52.8 from the previous month’s reading of 51.2 and beating economists’ expectations of 51.1. It is the sector’s third consecutive month of growth and the biggest jump since February 2011.
Elsewhere in Asia, Japan and South Korea saw factory activity shrink at a much slower pace, suggesting that pressures on manufacturers were easing. Taiwan’s manufacturing activity also rose above the 50-mark separating growth from contraction. But factory activity in the Philippines and Vietnam slid in July.
On today’s Money Talk, we’re joined by Patrick Bennett from CIBC World Markets and Ben Quinlan of Quinlan & Associates. With a view from Japan is Tokyo-based journalist and author William Pesek.
04/08/2020 - 8:09am Business and Market Discussion
Patrick Bennett, Macro Strategist at CIBC World Markets highlights that stimulus packages and strong domestic activity have been key to China’s short-term economic recovery.
Ben Quinlan, CEO and Managing Partner at Quinlan & Associates warns that economic recession is likely to fuel social unrest around the world, a major threat to recovery.
04/08/2020 - 8:24am View from Japan