Peter Lewis: A fast moving and topical business and finance show.



    主持人:Peter Lewis

    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 moneytalk@rthk.hk, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .



    Business and Market Discussion

    China’s economic chief, Vice-Premier Liu He, and US Treasury Secretary, Janet Yellen, held a virtual conference on Tuesday, at the request of the United States. It was their first call since October. The official Xinhua News Agency reported that the two sides had a “pragmatic and frank” exchange on macroeconomic, tariff and supply chain issues as well as rising commodity prices and food security challenges. 

    The talks come as President Biden is considering a rollback of some of the Trump Administration’s US$300bn of US tariffs on Chinese consumer goods this week, along with a new probe into industrial subsidies that may lead to more duties in strategic areas like technology. 
    Activity in China’s private services sector staged a stronger rebound than expected last month. The Caixin Services PMI for June came in at 54.5, marking the highest level in 11 months, compared to 41.4 in the previous month and beating economists’ expectations for a reading of 49.6. The index was boosted by slowing input cost inflation and a rise in new orders, while a sub-index for employment showed businesses had slowed the rate at which they were cutting jobs. 
    New Hong Kong Chief Executive, John Lee, was cautious on when there could be a further reduction in quarantine requirements for arrivals into the SAR. Speaking at a media briefing yesterday, he said he’s asked Health Secretary Lo Chung-mau to review anti-epidemic measures, to strike a balance between infection control and people’s convenience. 
    Hong Kong’s retirement scheme for workers, the Mandatory Provident Fund, has suffered its biggest half-yearly loss since the scheme was launched in December 2000, in the first six months of 2022. According to data provided by MPF Ratings, an independent pension research firm, the fund lost 12.96% in the first six months of 2022. That translates into a loss of HK$33,300 for each of the 4.6 million members of the scheme. 
    On today’s Money Talk we’re joined by Asian Fund Management Industry Consultant, Stewart Aldcroft, Pete Sweeney, Asia Editor at Reuters Breakingviews and RTHK’s International Economics Correspondent, Barry Wood.

    06/07/2022 - 足本 Full (HKT 08:03 - 08:35)

    06/07/2022 - 8:09am Business and Market Discussion

    Asian Fund Management Industry Consultant, Stewart Aldcroft notes that European nations are heavily affected by rising fuel prices due to the weakening of the euro.

    Pete Sweeney, Asia Editor at Reuters Breakingviews suggests that China's economy may be at risk of a slowdown if the world goes into recession, as the country relies heavily on exports.

    RTHK’s International Economics Correspondent, Barry Wood believes that the Biden Administration will shortly remove some tariffs on Chinese goods and make others more targeted.


    06 - 07

    Business and Market Discussion

    主持人:Peter Lewis

    US President Joe Biden plans to announce a new sanctions package against Russia during his trip to Brussels and Warsaw which starts today. President Biden will visit the Belgian capital, where NATO and the European Union have their headquarters, to hold talks with foreign leaders on Thursday. US national security adviser, Jake Sullivan, said “President Biden will join our partners in imposing further sanctions on Russia and tightening the existing sanctions to crack down on evasion and ensure robust enforcement,” but he didn’t provide further details. In addition to sanctions, the US and its European allies are expected to announce new action aimed at “enhancing European energy security and reducing Europe’s dependence on Russian gas,” Mr. Sullivan said.

    Hong Kong health authorities on Tuesday reported 14,152 new local Covid cases. The Centre for Health Protection also reported another 245 deaths, taking the death toll to 6,151 and the fatality rate to 0.58%. Hong Kong University’s medical faculty estimates that around 4.4 million people in the SAR have already been infected and predicts that around 2.2 million more will contract the coronavirus in the next wave of outbreak. Researchers from HKU said on Tuesday that Hong Kong is facing a crossroad over whether to keep its dynamic clearance strategy against Covid-19 or move on to start treating it as an endemic disease that will keep circulating in the community for the long term.
    US government bonds were under pressure on Tuesday after hawkish comments from Fed Chairman, Jerome Powell, triggered a slide in Treasuries. Mr. Powell said that a “substantial firming in the stance of policy” was necessary despite a sharp escalation in geopolitical tensions tied to Russia’s invasion of Ukraine. The Fed Chairman added that the labour market in the US looked “extremely tight” and inflation was “much too high”. The US Ten Year Treasury Bond yield rose 9bps to 2.39%, the highest level since May 2019. Two-year yields soared above 2% this week to 2.17% and have risen almost 90bps in just three weeks. The gap between five-year and 30-year US yields is the narrowest since 2007, signalling an economic slowdown as the Fed hikes borrowing costs.
    Troubled property developer China Evergrande has reported to the Hong Kong Stock Exchange that it will be unable to file its financial results by March 31 as required by stock listing rules, as audit work has not yet been completed. Evergrande said in the filing to HKEX that due to the “drastic changes” in its operations since the second half of last year, the auditor has added a large number of additional audit procedures. Evergrande said it would publish the audited annual results “as soon as practicable” after the audit procedures have been completed.
    On today’s Money Talk we’re joined by Dickie Wong at Kingston Securities, Carlos Casanova from UBP and RTHK’s International Economics Correspondent, Barry Wood.


    23/03/2022 - 足本 Full (HKT 08:03 - 08:35)

    23/03/2022 - 8:09am Business and Market Discussion

    Dickie Wong, Head of Research at Kingston Securities believes that the Hong Kong stock market hit bottom last week following China’s announcement of policy support for the economy and the financial markets.

    Carlos Casanova, Senior Asia Economist at UBP suggests that the relaxation of Hong Kong’s anti-epidemic measures do not amount to opening up, but are switching back to the intermediate condition before the fifth wave began.

    RTHK’s International Economics Correspondent, Barry Wood, says that economic growth in the West will be impacted by the war in Ukraine and surging inflation.

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