MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Distinct Underperformance in Chinese Stocks Bleeds into European Open

EQUITIES
  • Cash equity markets across Europe are in negative territory early Monday, with mainland indices off 0.4-0.7%. French, German and Spanish firms are the notable underperformers, with consumer discretionary and financials leading losses.
  • US futures are also lower, with the e-mini S&P retreating off of the all-time highs struck late Friday, trading lower by around 18 points at pixel time.
  • The weakness across European indices follows on from the distinct weakness in Chinese and Hong Kong listed stocks overnight, which prompted the Hang Seng Index to close lower by over 4% to touch the lowest level of 2021.
  • Weakness across Hong Kong / Chinese stocks follows the crackdown on education-linked stocks, effectively banning for-profit school tutoring programmes. The likes of New Oriental Education and Koolearn Technology fell close to 50% in overnight trade, with fears that the authorities could target other 'hot' sectors in a similar fashion.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeFixed Income BulletsEquitiesBulletMarketsEmerging Market NewsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeFixed Income BulletsEquitiesBulletMarketsEmerging Market NewsForeign Exchange Bullets

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