Next Week's Heavyweight Schedule: Warsh Hearing, US-Iran Ceasefire Expiry, Tesla, Moutai, and Eoptolink Q1 Results

Overview of Major Financial Events for the Week of April 20 - April 26 (All times Beijing Time):

Key Events for Next Week:

Geopolitical: The two-week ceasefire agreement between the US and Iran is set to expire late on April 21 ET. Both sides are weighing whether to extend it by another two weeks, though official confirmation has not yet been issued. Should the ceasefire break down, energy prices could face renewed pressure—this is precisely the core agenda for the informal summit of EU leaders in Cyprus on April 23-24.

Policy: Domestically, a Politburo meeting is approaching at the end of April. On April 21, the US Senate Banking Committee will hold a hearing on Kevin Warsh's nomination as Federal Reserve Chair, with markets focusing on his stance regarding interest rates and signals about the timing of rate cuts. The largest "tariff refund" in US history begins on April 20.

Technology Sector: Tesla is scheduled to release its Q1 financial results after market close on April 22, followed by a conference call; markets are watching delivery numbers and profit margins. The Google Cloud Next conference will take place from April 22-24, expected to unveil the next-generation TPU architecture and disclose progress in AI computing power technologies such as Optical Circuit Switching (OCS). Huawei will launch AI glasses and new products from its Pura series on April 20. Additionally, earnings reports from US stocks including IBM, Intel, Boeing, and SAP, as well as A-share Q1 reports from Zhongji Innolight, Eoptolink, Moutai, and Zijin Mining, will be released in concentrated batches.

Economic Indicators

On Monday, April 20, China's April Loan Prime Rate (LPR) will be announced. Markets widely expect the 5-year-plus LPR to remain at 3.5% and the 1-year LPR at 3%, marking an eleventh consecutive month of no change.

On Tuesday, April 21, South Korea's export data for the first 20 days of April will be released. Prior to this, South Korea's March exports surged 48%, with semiconductors serving as the core driver. Semiconductor export values jumped 151.4% year-on-year, historically breaking through $30 billion. On the same day, US March retail sales figures will also be published.

On April 23, the US April S&P Global Manufacturing PMI will be released.

On April 24, Japan's March CPI data will be released. The ongoing Middle East conflict in mid-March may push up CPI figures. Previously, Japan's February CPI had fallen for four consecutive months, hitting a near-four-year low.

Financial Events

• US-Iran Two-Week Ceasefire Expires

Late on April 21 ET, the two-week ceasefire agreement between the US and Iran will expire. Currently, both sides are considering extending the ceasefire by two weeks, but neither side has officially confirmed this.

• US Senate Holds Hearing on Warsh's Nomination as Fed Chair

On April 21, the US Senate Banking Committee will hold a hearing on Kevin Warsh's nomination as Federal Reserve Chair. Market attention focuses on interest rate issues: whether his stance is hawkish or dovish and when rate cuts might begin.

• Domestic Key Meeting Expected

The domestic Politburo meeting is typically held at the end of April. Bohai Securities believes that the April Politburo meeting and first-quarter economic data may gradually become the core of the upcoming macro narrative. Huaxi Securities believes that the A-share market needs to focus on the Politburo meeting at the end of April and high-growth sectors in corporate earnings.

• Google Conference: Google Cloud Next Opens

Google's major conference, Google Cloud Next, is planned for April 22-24. It is expected to unveil the next-generation TPU architecture and disclose progress in the application of technologies such as memory pooling and Optical Circuit Switching (OCS), which could have a significant impact on the AI computing power industry chain.

• US Customs: Tariff Refunds to Launch on April 20, Scale Could Reach 1 Trillion Yuan

According to CCTV News, US Customs and Border Protection stated on the 14th that the first phase of R&D for a new customs declaration system function for large-scale refunds to importers has been basically completed, and relevant tariff refund work will commence on the 20th.

This tax refund system is used to return $166 billion (approximately 1.13 trillion yuan) in tariffs to importers, which were ruled "illegal" by the US Supreme Court earlier this year in February.

• US President Trump's Early Summer White House Correspondents' Dinner

Trump plans to host an Official Trump Meme coin luncheon for TRUMP token holders at his Mar-a-Lago estate in Florida on April 25. That same evening, he must attend the White House Correspondents Association dinner in Washington, raising questions about his ability to attend both events simultaneously.

• EU Leaders Informal Summit: Energy Shock from Iran War is Main Agenda

EU leaders are holding an informal summit in Cyprus, where the Iran war has pushed energy price issues to the top of the agenda. The meeting runs from April 23 to April 24.

Additionally, on April 21, EU Foreign Ministers will hold a meeting in Luxembourg to discuss Ukraine, the Middle East, and global security issues.

• Huawei Pura Series New Product Launch: Huawei AI Glasses to Be Unveiled; Huawei Qiankun Technology Conference Also Held

Huawei Consumer Business Group announced it will hold a Huawei Pura series and full-scenario new product launch event on April 20 at 14:30, unveiling Huawei AI glasses, the foldable phone Pura X Max, the Pura 90 series, WATCH FIT 5, and other series.

The Huawei Qiankun Technology Conference will be held on April 23. At this conference, Huawei Qiankun will launch HUAWEI ADS 5, HarmonySpace 6, and more innovative technologies.

• Hongmeng Smart Driving Spring New Product Launch: AITO M6 to Be Released

The Hongmeng Smart Driving Spring New Product Launch will be held on April 22. Richard Yu, Executive Director of Huawei, Chairman of the Product Investment Review Committee, and Chairman of the Terminal BG, announced that the new member of the AITO family, the AITO M6, will be released on April 22. The vehicle is positioned as a mid-to-large-sized five-seater smart SUV, equipped across the board with 896-line dual-optical path image-level LiDAR.

• Beijing International Automotive Exhibition

The 19th Beijing International Automotive Exhibition will be held in Beijing from April 24 to May 3.

• 2026 China Aerospace Conference

The "2026 China Aerospace Conference (CSC2026)" will be held in Chengdu from April 23-26. It invites renowned experts, scholars, and managers from the aerospace field domestically and internationally to discuss the blueprint for high-quality aerospace development, comprehensively showcase cutting-edge aerospace technology achievements, and deepen pragmatic cooperation in the international aerospace sector.

• Money20/20 Asia Fintech Conference

The Money20/20 Asia Fintech Conference is being held in Bangkok from April 21 to April 23.

• Central Banks of Russia, Philippines, Turkey, and Indonesia Announce Interest Rate Decisions

Next week, the central banks of Russia, the Philippines, Turkey, and Indonesia will announce their interest rate decisions.

• Ministry of Finance to Issue 15.5 Billion Yuan Government Bonds in Hong Kong

An announcement from the Ministry of Finance indicates that the second issue of Renminbi government bonds for 2026 will be issued in Hong Kong on April 22, with a scale of 15.5 billion yuan. This will exceed the 14 billion yuan issuance size in February this year, becoming the largest dim sum bond issuance by the Ministry of Finance since October 2023.

• Russia Limits Export of Certain Fertilizers Until April 21

According to TASS, Russia has limited the export of certain fertilizers until April 21.

Earnings and Corporate Updates

• Tesla Earnings Call

Tesla will release its Q1 financial results after US market close on April 22, followed by a conference call at 5:30 PM (5:30 AM Beijing Time on April 23).

• SanDisk Officially Added to Nasdaq-100 Index

SanDisk will officially join the Nasdaq-100 index on April 20.

• STMicroelectronics: Price Hikes Starting April 26

Starting April 26, prices for multiple product lines from STMicroelectronics will be increased. The company explained that demand for semiconductors across industries is growing significantly, while material suppliers are charging allocation fees or raising prices, and energy and transportation costs are climbing.

• Tesla, Intel, Boeing

US stocks including Tesla, IBM, Intel, Boeing, SAP, United Airlines, American Express, Texas Instruments, STMicroelectronics, Procter & Gamble, Lockheed Martin, Blackstone Group, Boston Scientific, Volvo, etc., will release their latest earnings.

Domestic companies including Eoptolink, Tianfu Communication, Moutai, Zijin Mining, New Oriental-S, Dongxin Shares, Muyuan Foods, Aier Eye Hospital, Goertek, China Shenhua Energy, China Unicom, etc., will release their Q1 or annual reports.

Overview of HK Stock Earnings Release Dates:

Risk Disclosure and Disclaimer

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