Next week's financial markets will be influenced by several key events: the release of China's April PMI data, the Federal Reserve's interest rate decision, and the deadline for annual and quarterly earnings reports. Major U.S. tech giants are scheduled to report earnings, while significant developments are expected in AI and aerospace sectors.
**Major Events** **April PMI Data Release** China's April Purchasing Managers' Index (PMI) data will be published on April 30. In March, the manufacturing PMI stood at 50.4%, up 1.4 percentage points from the previous month, indicating an expansion in manufacturing activity. The non-manufacturing PMI was 50.1%, rising 0.6 percentage points from February and reflecting improved conditions in the non-manufacturing sector.
**Central Bank's MLF Operation** The People's Bank of China announced it will conduct a 400 billion yuan one-year Medium-term Lending Facility (MLF) operation on April 27 (next Monday). The operation will use a fixed amount, interest rate tender, and multiple-price bidding method to maintain ample liquidity in the banking system.
**Federal Reserve Interest Rate Decision** The Federal Reserve will announce its interest rate decision on April 30. Recent congressional hearings featured Kevin Warsh, a nominee for Fed chair, who emphasized the Fed's independence and stated that no specific rate commitments had been requested by the administration.
**Earnings Report Deadline** The statutory deadline for listed companies to disclose their 2025 annual reports and 2026 first-quarter reports is April 30. The earnings season is entering its final phase.
**U.S. Tech Giants' Earnings Reports** More than one-third of S&P 500 component companies are set to release earnings next week. Microsoft, Alphabet (Google's parent company), Amazon, and Meta will report after market close on Wednesday, followed by Apple on Thursday.
**Alibaba's AI Project Enters Open Testing** Alibaba's AI initiative, "Happy Horse," will begin open testing on April 27. The project represents a core effort in AI application deployment, focusing on intelligent interaction and content generation, marking a significant step in the tech giant's AI strategy.
**Long March 10B Maiden Launch** China's new-generation crew carrier rocket, Long March 10B, will undertake its first flight mission from the Wenchang launch site on April 28. The launch will also test maritime recovery technology.
**Ninth Digital China Summit** The Ninth Digital China Summit will be held in Fuzhou from April 29 to 30. The event, themed "Accelerating Digital Intelligence Innovation and Deepening Digital China Construction," will feature over 50 dialogue sessions, a digital innovation competition, and more than 100 special activities.
**Over 25 Billion Yuan in Lock-up Shares to Be Freed** According to Wind data, lock-up shares from 24 companies will become tradable next week (April 27–May 1), totaling 1.313 billion shares. Based on April 24 closing prices, the total market value of these shares is approximately 25.499 billion yuan. The top three companies by unlock value are Longyang Electronics (11.532 billion yuan), Haoshanghao (4.036 billion yuan), and Zhengbang Technology (1.738 billion yuan). By share volume, the leaders are Zhengbang Technology (550 million shares), Longyang Electronics (199 million shares), and Haoshanghao (190 million shares).
**New Listing Opportunities** Two new stocks will be listed next week: Changyu Group on the Shanghai Main Board and Ruixiang Intelligence on the Beijing Stock Exchange, both on April 27.
**A-H Share Market Holiday Schedule** The A-share market will be closed for the Labor Day holiday from May 1 (Friday) to May 5 (Tuesday), with trading resuming on May 6 (Wednesday). May 9 (Saturday) is a regular weekend closure. Hong Kong Stock Connect services will be suspended from May 1 to May 5, resuming on May 6.
As the holiday approaches, market participants are watching for potential impacts on consumer and tourism-related sectors.
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