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Business and Market Discussion

2021-12-01

Business and Market Discussion

2021-12-01
 Global equities have tumbled once again after the boss of pharmaceuticals firm Moderna cast doubt on the effectiveness of existing vaccines against the new Omicron variant of Covid-19 and hawkish comments from Fed chairman Jerome Powell. Moderna CEO Stephane Bancel told the Financial Times yesterday that the rapid spread of Omicron in South Africa suggested that the current crop of vaccines may need to be modified next year.

Fed Chairman Jerome Powell said yesterday that the US central bank should consider tapering its bond-buying stimulus more quickly and warned that the variant adds to economic risks and complicates the inflation picture.

Activity in China’s manufacturing sector unexpectedly expanded last month. China's official manufacturing PMI gauge registered 50.1, up from 49.2 the previous month and beating economists’ forecasts of 49.6. The mainland's official non-manufacturing PMI dropped slightly to 52.3, from 52.4 in October.

On today’s Money Talk we’re joined by Mark Michelson from IMA Asia, Nick Marro of the Economist Intelligence Unit 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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