Latest / Best of Business / Shane Solly: Harbour Asset Management spokesperson on the US and China's trade talks

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Shane Solly: Harbour Asset Management spokesperson on the US and China's trade talks · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks. They'd be
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  Speaker 1: follow this and our wide range of podcasts now on iHeartRadio.
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  Speaker 2: Now Shane Soley Harbor Asset Management is with us. Hey, Shane, Hi. Okay,
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  Speaker 2: So we've got the trade talks. What's the latest?
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  Speaker 3: Yeah, Look, so the US and Chinese governments have both
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  Speaker 3: reported substantial progress. They spending two days in Switzerland having talks,
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  Speaker 3: say but de escalating the trade war. They haven't released
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  Speaker 3: any specifics, but the Chinese Vice Premier he left thing.
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  Speaker 3: He said the two biggest economies have agreed to create
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  Speaker 3: a mechanism for further talks. Now tonight CIMPM, New Zealand time.
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  Speaker 3: US Treasurer Scott has said he's going to do a
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  Speaker 3: briefing on the China talk. So it's notice pending either noticepending.
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  Speaker 2: How are the capital markets reacting?
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  Speaker 3: Look going into the weekend, there was actually pretty low
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  Speaker 3: expectations market. It's pretty much of the view that the
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  Speaker 3: sisters the starter, there's the icebreaker. But if these statements
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  Speaker 3: from the two governments are actually correct about the talks
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  Speaker 3: being sustained, it's a bitter outcome. You know, the truthers
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  Speaker 3: will still left terras, and they will still lead to
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  Speaker 3: slower activity and unfortunately a little bit high inflation, but
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  Speaker 3: it'll be less bad. So what we're seeing in New
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  Speaker 3: Zealand's trading time as the US dollar has gone up,
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  Speaker 3: the US share market's actually the futures, this is the
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  Speaker 3: forward market that gets traded outside normal time, is up
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  Speaker 3: about one and a half percent plus. And locally we
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  Speaker 3: saw a slightly better day in the New Zealand shre market,
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  Speaker 3: up half a percent. Main freight that was the big
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  Speaker 3: leader on the day, up five percent to sixty six dollars.
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  Speaker 3: It is potentially a benefit of beneficiary of the storing
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  Speaker 3: and trade between China and US, but really until we
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  Speaker 3: sort of see the details, it's just words suiting that
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  Speaker 3: Swiss chocolate might have hit the spot in terms of
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  Speaker 3: sweeting things up there.
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  Speaker 2: Now with the market surprised by Donald Trump's announcement on pharmaceuticals, yeah.
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  Speaker 3: So we've sort of got when there was something due
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  Speaker 3: to be announced late last week and so what has
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  Speaker 3: come out on as social media platform and said we're
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  Speaker 3: going to cut prescription drug costs in the US by
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  Speaker 3: thirty between third and eighty percent, bringing them into line
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  Speaker 3: with other countries using what's called the most Favored Nations
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  Speaker 3: price in model. I won't bore you with the details,
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  Speaker 3: but it's something that's been used before and what this
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  Speaker 3: has done, Unfortunately, it's seen healthcare stops in the Asia
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  Speaker 3: Pacific markets go down today on worries that their profits
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  Speaker 3: will take a hit if they have to reduce prices
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  Speaker 3: in the US and they need locally efficient pipe with healthcare.
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  Speaker 3: Shoe price was down two percent to thirty five dollars twenty,
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  Speaker 3: perhaps impacted by that news.
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  Speaker 2: Shane, it's good to talk to you. I really appreciate
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  Speaker 2: your time.
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  Speaker 1: Mate.
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  Speaker 2: That Shane, we're talking in next week, Shane Solly, Harbor
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  Speaker 2: Asset Management.
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