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Business & Market Discussions / View from South Korea / Entrepreneur - flu.ID / US Election and Prim

2019-08-01

Business & Market Discussions / View from South Korea / Entrepreneur - flu.ID / US Election and Prim

2019-08-01
The US Federal Reserve has cut interest rates by 25bps citing “global developments” and “muted inflation” as reasons for the reduction. However, in a press conference after the meeting Fed Chairman Jerome Powell said this was not the start of a prolonged rate-cutting cycle. President Trump said Mr. Powell “let us down” by not clearly signalling more rate cuts.
 

Hong Kong’s economy has almost come to a standstill according to the government’s advance estimate of second quarter GDP. Year-on-year growth in Q2 was 0.6%, the same pace as the previous quarter and missing forecasts of 1.9% expansion. On a quarter-on-quarter basis the economy contracted 0.3%.

 
Trade talks between US and Chinese officials have concluded in Shanghai with no agreement. Following the meeting, a Chinese Foreign Ministry spokeswoman said, “only after the US shows enough sincerity and good faith, can we achieve progress in trade negotiations.” The two sides won’t meet again until September.

 
Our guests on today’s Money Talk are Mark To from the Wing Fung Financial Group and Anthony Chan of Union Bancaire Privée. Providing the view from South Korea is Peter Kim at Mirae Asset Daewoo. After 8:30, we talk to the winner of the 2019 DreamCatchers MedTech Hackathon. Joining us is Jasmine Poon from the winning team, flu.ID. We also get an update on the Democratic primaries in the US, following Tuesday night’s debate, with Nick Wright of Luntz Global Partners.

Money Talk

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") .
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