Money Talk on RTHK Radio 3 - Wednesday 12 April 2017

Here we go again. Shares in China Finance Investment Holdings plunged 83% in the space of 20 minutes on the HK Stock Exchange. The move comes after shares in Huishan Dairy dropped more than 90% three weeks ago, before being suspended. Huishan Dairy has now defaulted on a $200m loan to HSBC and has had assets worth $79m frozen by the courts, in relation to another loan. There are also woes for United Airlines. Video of a passenger being forcibly removed from an overbooked flight is the top trending story on China’s Weibo social network, after another passenger said he believed he had been selected because he was Chinese. In the markets, the Hang Seng Index was dragged lower in morning trading by sharp falls in some large mainland companies. Shares in Guotai Junan Securities, China’s third largest brokerage firm, trended higher at the open on their first day of trading in HK. A new report from Standard Chartered shows that globalization of the renminbi is at its lowest point in 3 years.

Joining Wednesday’s Money Talk are Andrew Collier of Orient Capital Research and Le Xia from BBVA research. We also catch up on the latest business news from the U.S. with RTHK’s international economics correspondent Barry Wood.