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") .
Shares in the US have resumed their sell off, led by falls in the technology sector, as Federal Reserve officials and business organisations sound warnings about the fragile economic recovery. The S&P 500 fell 2.4% and is now more than 9% off its record high hit at the beginning of the month.
24/09/2020 - 8:09am Business and Market Discussion
Personal Wealth Advisor Enzio von Pfeil says that stock markets shouldn't be regarded as indicators of economic performance as trading decisions nowadays tend to be influenced by technology rather than socio-economic factors.
Alex Frew McMillan, Writer at Dragonfly Media notes that China faces a two-speed recovery, with coastal cities doing far better than the rest of the nation and exposing already existing geographical inequalities.
24/09/2020 - 8:24am View from Taiwan
Chinese state media has labelled the US as a “rogue country” and described the potential sale of video sharing firm TikTok to Microsoft as “theft.” The China Daily said Beijing “has plenty of ways to respond if the administration carries out its planned smash and grab” of TikTok.
The US factory sector has improved for a second consecutive month. Factory orders rose 6.2% in June, adding to the 7.7% gain seen in May. The gains were led by orders for transportation equipment, with a rise of 20.2%.
Hong Kong’s Mandatory Provident Fund returned on average 3.85% in July, or HK$11,136 for each of the nearly 3 million people in the scheme. Asia-Pacific equity funds were the best performers with average monthly returns of 8.8%, followed by Greater China equity funds at 8.7% and US equity funds at 5.7%.
On today’s Money Talk, we’re joined by Stewart Aldcroft of CitiTrust, David Roche at Independent Strategy and RTHK’s International Economics Correspondent Barry Wood in Washington, D.C.
05/08/2020 - 8:09am Business and Market Discussion
Stewart Aldcroft, Chairman of CitiTrust says that uncertainty from the latest surge in Covid-19 makes it difficult for the Fed to take targeted recovery measures.
David Roche, President & Global Strategist at Independent Strategy views the TikTok saga as another step towards a US-China cold war and he expects finance to be targeted next.
Barry Wood, RTHK’s International Economics Correspondent in Washington, D.C. doesn’t think that the US will restrict economic freedom, despite forcing a sale of TikTok, as the free market remains in the country’s best interests.