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Business and Market Discussion / View from South Korea

2021-02-23

Business and Market Discussion / View from South Korea

2021-02-23
 Technology shares have tumbled in Hong Kong and the US as the Bloomberg Commodity Index rose to the highest level since 2013, raising the spectre of inflation. In Hong Kong, the Hang Seng Tech Index plunged 5.5%, in the worst-sell off since mid-November. In the US, the NASDAQ Composite Index tumbled 2.5% to a 3-week low.

Hong Kong’s Financial Secretary, Paul Chan, is expected to unveil an austerity budget tomorrow as he expresses concern over the deficit which is expected to hit a record high of HK$300 billion in the current fiscal year. The finance minister is expected to announce measures to develop a green ecosystem in Hong Kong, which he believes is key to the city’s economic recovery.

Chinese Foreign Minister Wang Yi urged the Biden Administration to remove tariffs and sanctions and to “build up goodwill.” He said the actions of the Trump administration to suppress and contain China were the root cause of the difficulties in their bilateral relations. He added, the US should abandon the “irrational suppression” of China’s technology progress.

On today’s Money Talk, we’re joined by Dickie Wong of Kingston Securities and Alex Frew McMillian from Dragonfly Media. With a view from South Korea is Peter Kim of KB Securities.

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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