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Business and Market Discussion / Hong Kong Budget preview

2020-02-26

Business and Market Discussion / Hong Kong Budget preview

2020-02-26
US and European stocks have seen a second day of heavy selling after Japan and Italy warned about the spread of the coronavirus and investor concerns intensified over the global impact of the outbreak.

Federal Reserve vice-chair Richard Clarida said the central bank was monitoring the latest developments and it anticipated a noticeable impact on Chinese growth in the first quarter. But he said it’s still too soon to speculate about the impact on the global economy, or whether the epidemic will lead to a material change in the outlook.

Standard Chartered downgraded its 2020 GDP forecast for Hong Kong, lowering it to negative 2.4% from negative 1.5% due to the impact of the coronavirus outbreak. Against that background, Hong Kong Financial Secretary Paul Chan will deliver his 2020/21 budget this morning under pressure from across the political spectrum to deliver a package of tax cuts, cash handouts to Hong Kong residents and relief measures for businesses.


On today’s Money Talk we’re joined by Stewart Aldcroft of CitiTrust, Tariq Dennison from GFM Asset Management and RTHK’s International Economics Correspondent, Barry Wood.

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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