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 / HBSC break up

    Hong Kong’s jobless rate rose to a 10-month high of 5.4% in the February to April period, up from 5% in the January-to-March period. The rolling three month period saw unemployment increase 0.4 percentage points, with about 206,100 people out of work. Officials said employment weakened in almost all sectors in the three months ending April. The underemployment rate also rose from 3.1% to 3.8%. Labour secretary Law Chi-kwong said, “the labour market should see improvement in the coming months.”

    Coronavirus restrictions were relaxed in Hong Kong yesterday for several categories of businesses, more than five months after they were reintroduced to control the territory’s Omicron outbreak. Bars, nightclubs, karaoke lounges and mah-jong houses reopened, and a curfew on dining in at restaurants was pushed back from 10pm to midnight. Bars and clubs can remain open until 2am with a maximum of four people per table. 
    The Philippine central bank raised its key interest rate for the first time since 2018 to combat inflation which is the second highest in Southeast Asia. Bangko Sentral ng Pilipinas increased the benchmark rate by 25bps to 2.25%, in line with economists’s forecasts. Consumer price inflation is currently at 4.9%, well above the central bank’s 2%-4% target band. 
    Yesterday, Sri Lanka fell into default for the first time in its history. The central bank said that the nation wouldn’t be able to make coupon payments of US$78 million on notes maturing 2023 and 2028, until the debt is restructured. A 30-day grace period to make payment expired on Wednesday. It is the first sovereign default in the Asia-Pacific region this century, according to Moody’s. 
    On today’s Money Talk, we’re joined by Andrew Freris of UCAP HK Asset Management and Alicia Garcia Herrero from Natixis. Speaking about the suggestion by Ping An Insurance to break up HSBC is Sai Kung District Councillor, Christine Fong, who represents some minority shareholders.

    20/05/2022 - 足本 Full (HKT 08:03 - 08:35)

    20/05/2022 - 8:10am Business and Market Discussion

    Andrew Freris, Chief Strategist at UCAP HK Asset Management notes that citywide lockdowns in mainland China have had a global impact as many countries are dependent on China's supply chains.

    Alicia Garcia Herrero, Chief Economist for Asia Pacific at Natixis thinks that mainland China's infrastructure plan will not improve the country's economy when most people are in lockdown.

    20/05/2022 - 8:26am HBSC break up

    Sai Kung District Councillor, Christine Fong welcomes the idea of HSBC separating out its Asian operations, as 46% of the bank's revenue is mainly in Asia and Hong Kong.



    Business and Market Discussion / View from India

    主持人:Peter Lewis

    The People’s Bank of China Deputy Governor Chen Yulu said Thursday stabilising economic growth was its top priority and it will step up support for weak sectors. He said, “the PBOC will make stabilising growth a more prominent priority, strengthen cross-cyclical policy adjustment, and accelerate to implement policy measures already announced, especially to actively plan new policy tools.” However, he did not elaborate on what the new policy tools would be. 

    Sheng Laiyun, deputy chief of the National Bureau of Statistics, said the coronavirus outbreak has come as a “huge shock” to the economy. In an interview with the official Xinhua News Agency, he said that it will only have a short-term impact on production and people’s lives. He added, the effects will recede gradually with Covid control measures and other policies, and “the economy is expected to reach an inflection point of recovery.” He expressed confidence that China will achieve this year’s targets for economic development and said that policy measures proposed in a recent Politburo meeting will help revive the economy, including steps to expand infrastructure investments.
    China said it would “strictly limit” unnecessary outbound travel by its citizens as it continues with its zero-Covid approach and attempts to stamp out the Omicron outbreak in several cities across the mainland. The National Immigration Authority said in an announcement on WeChat, that it also needed to prevent people bringing the virus into China. The statement called for “strict implementation of entrance and exit policies, to strictly limit non-essential outbound travel activities by Chinese citizens”. However, it provided no details of what this would mean in practice.
    The Hong Kong Monetary Authority intervened for the second time in a day on Thursday to defend the Hong Kong dollar's peg to the greenback. The authority said it sold more than HK$4 billion worth of US dollars after the local currency touched the weak side of its narrow trading band of between 7.75 and 7.85 to the greenback. The local currency declined to 7.85 per US dollar, hitting the weak end of its allowed trading range for the first time since May 2019. 
    On Today’s Money Talk, we’re joined by Andrew Freris AT UCAP HK Asset Management, and Iris Pang FROM ING Wholesale Banking. With a view from India is Toby Lawson of Societe Generale India. 


    13/05/2022 - 足本 Full (HKT 08:03 - 08:35)

    13/05/2022 - 8:09am Business and Market Discussion

    Andrew Freris, Chief Strategist at UCAP HK Asset Management notes that the HK dollar is dropping against the US dollar which could lead to capital outflows from the SAR.

    Iris Pang, Chief Greater China Economist at ING Wholesale Banking notes that the uncertainty over the duration of the lockdown in Shanghai is affecting market sentiment and weakening the domestic economy, causing a drop in the Chinese yuan.

    13/05/2022 - 8:25am View from India

    Toby Lawson, CEO of Societe Generale India reports that the Indian rupee has hit an all-time low against the US dollar and inflation is at an eight-year high.

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