US stocks have fallen sharply overnight as investors confront a number of fears including Donald Trump's ability to push through infrastructure spending and tax reforms. In the latest blow to Donald Trump’s relationships with the business community, he has abandoned plans for a third business council. The White House announced this morning that it would not go ahead with a planned Infrastructure Council that would have advised the President on how to invest in roads, bridges and other public works projects. White House strategist Steve Bannon says the United States is in an "economic war" with China, and just 5 years away from hitting a point at which America will never be able to recover.
E-commerce giant Alibaba has almost doubled its profits in the last 3 months. The company benefitted from strong growth in its core ecommerce business, as more Chinese shoppers bought online.
On today’s Money Talk to provide their analysis on the China markets are Francis Lun of GEO Securities and Dickie Wong of Kingston Securities. Toby Lawson, CEO of Societe Generale Securities in Sydney gives us an Australian perspective on the latest business news. Alfred Lau, property analyst at BOCOM discusses the outlook for the Hong Kong and mainland property sector. Finally, we are joined by Gilly Wong, Chief Executive of the Hong Kong Consumer Council. (8am-9am, email to moneytalk@rthk.hk)