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 / View from Japan

    China has unexpectedly cut key interest rates as the latest economic data showed an alarming slowdown in the economy. The People’s Bank of China cut both the 1-year Medium Term Lending Facility and 7-day reverse repo rates. 1-year MLF loan rates were reduced by 10 basis points to 2.75% from 2.85%. The 7-day reverse repo rate was cut by 10bps to 2% from 2.1%. 

    Data released by the National Bureau of Statistics on Monday showed retail sales, factory output and fixed asset investment all slowed from June to July by much faster than expected as companies face flat demand at best for their exports and consumers tighten their belts in the face of disruptions from China’s zero-Covid lockdowns. Industrial production rose by 3.8% in July year-on-year, below estimates for a rise of 4.6%, and down slightly from 3.9% growth in June. Retail sales on the mainland rose 2.7% y/y, slowing from 3.1% in June and missing economists’ forecasts of 5.0% growth. 
    In data from the NBS on the state of the distressed housing market on the mainland, residential housing sales areas dropped by 23.1% y/y. China’s new home prices fell for an 11th month in July, declining 0.11%. 40 out of 70 major cities recorded new home price drops m/m in July versus 38 in June. 
    Japan’s economic output in the April-June period expanded for the third consecutive quarter but missed expectations in part because of high prices. Preliminary estimates showed Japan’s annualised GDP grew 2.2% in the second quarter of 2022, compared with the previous quarter, accelerating from an upwardly revised 0.1% increase in January to March. That was lower than economists’ median forecasts for a 2.5% increase. 
    Thailand’s economy grew at a slower pace than expected in the second quarter. GDP rose 2.5% in April to June from a year ago, below estimates for a 3.1% expansion but faster than the 2.3% growth seen in the first quarter. 
    On today’s Money Talk, we’re joined by Martin Hennecke at St. James's Place Wealth Management and Iris Pang of ING Wholesale Banking. With a view from Japan is Nick Smith from CLSA.

    16/08/2022 - 足本 Full (HKT 08:03 - 08:35)

    16/08/2022 - 8:09am Business and Market Discussion

    Martin Hennecke, Head of Asia Investment Advisory at St. James's Place Wealth Management warns that the property sector remains a drag on the mainland economy..

    Iris Pang, Chief Greater China Economist at ING Wholesale Banking has cut her 2022 growth forecast for China from 4.% to 4.0%, but is more optimistic than many analysts.

    16/08/2022 - 8:25am View from Japan

    Nick Smith, Japan Strategist, CLSA says that nuclear restarts in Japan are the only way to overcome the current lack of generating capacity and of honouring its COP-26 pledge of cutting CO2 by 46% from 2013 levels by 2030.



    Business and Market Discussion

    主持人:Peter Lewis

    A two-day citywide Covid testing exercise of Macau’s 600,000 population came to an end on Tuesday. Officials said 49 people had so far been confirmed to have the virus and they asked all residents to conduct antigen self-tests today. 700 people were locked down inside the Fortuna Hotel on Tuesday after a cluster of cases were found there. Officials in the territory announced a funding package worth 10 billion patacas to help businesses and individuals hit by the mandatory testing exercise, which began on Sunday and saw schools closed and members of the public advised not to go to work. 

    Imports from China's Xinjiang region are due to be banned in the US as the Uyghur Forced Labor Prevention Act took effect on Tuesday. Several imports from the resource-rich region, including cotton and tomatoes, have already been banned from the US. Under the new rules, firms will have to prove imports from the region are not produced using forced labour, an accusation that Beijing denies. China's Ministry of Commerce said it firmly opposes the US ban on product imports from Xinjiang and that it is not conducive to the stability of global infrastructure and supply chains. 
    Sales of previously owned homes in the US dropped for the fourth straight month, but the median home price hit a record high. Existing home sales declined in May by 3.4% compared with April.The median US home price rose to $407,600, the first time it has climbed above $400,000, and a 14.8% increase from a year ago. 
    Global stocks rebounded Tuesday after falling into a bear market last week. The FTSE All-World Index jumped 1.9% yesterday after tumbling 5.7% last week and slipping into a bear market. It’s still down over 21% from last November’s record high. 
    On today’s Money Talk we’re joined by Asian Fund Management Industry Consultant, Stewart Aldcroft, Dickie Wong at Kingston Securities and RTHK’s International Economics Correspondent, Barry Wood.


    22/06/2022 - 足本 Full (HKT 08:03 - 08:35)

    22/06/2022 - 8:09am Business and Market Discussion

    Asian Fund Management Industry Consultant, Stewart Aldcroft, predicts that the US, EU and Japan are at risk of recession, and he foresees extreme uncertainty for a long time.

    Dickie Wong, Head of Research at Kingston Securities thinks that even if the US removes tariffs on Chinese goods, geopolitical tensions will still remain.

    RTHK’s International Economics Correspondent, Barry Wood says that investors will be closely watching Jerome Powell’s testimony before Congress later today for clues as to whether the Fed will raise interest rates by 75bps again in July.

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