MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

MNI BRIEF: China Politburo Flags Policy Support; 3rd Plenum In July

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI BRIEF: Caixin Apr Manufacturing PMI Hits Over One-year High

MNI BRIEF: China April Mfg. PMI Moderates To 50.4

Strong Q1 GDP Print Consistent With Survey Outperformance

GDP Bounces On Construction / Exports; Weaker End-2023 On Revisions

MNI: ITALY APR FLASH HICP +0.6% M/M, +1% Y/Y

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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Stocks Slide Through Close as Risk Aversion Pervades

EQUITIES
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  • US equity futures plumb new pullback lows in recent trade, with the e-mini S&P hitting 5066.00 to show below yesterday's lows and narrow the gap with the 100-dma support at 5006.21 in the process. Today's price action confirms seven consecutive sessions of lower lows for the index, as markets undergo a corrective cycle off alltime highs.
  • NYSE's TICK index shows a net ~1150 names on the downtick at 1130ET/1630BST, contributing to the latest weight going through headline indices.
  • Tech names bearing the brunt of the sell-off, chipmakers in particular - taking the lead from the >6% slide in ASML in Europe after-earnings.
  • Geopolitical risk backdrop remains fraught as markets await retaliatory steps from Israel after the weekend drone attack from Iran. Earlier Sky News report cited ex-Mossad intel chief as saying nuclear sites are "on the table" - which would mark a severe escalation of tensions in the region.
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  • US equity futures plumb new pullback lows in recent trade, with the e-mini S&P hitting 5066.00 to show below yesterday's lows and narrow the gap with the 100-dma support at 5006.21 in the process. Today's price action confirms seven consecutive sessions of lower lows for the index, as markets undergo a corrective cycle off alltime highs.
  • NYSE's TICK index shows a net ~1150 names on the downtick at 1130ET/1630BST, contributing to the latest weight going through headline indices.
  • Tech names bearing the brunt of the sell-off, chipmakers in particular - taking the lead from the >6% slide in ASML in Europe after-earnings.
  • Geopolitical risk backdrop remains fraught as markets await retaliatory steps from Israel after the weekend drone attack from Iran. Earlier Sky News report cited ex-Mossad intel chief as saying nuclear sites are "on the table" - which would mark a severe escalation of tensions in the region.