TENCENT EXECUTIVES SAID ON THE Q1 EARNINGS CALL THAT THE COMPANY’S CAPITAL EXPENDITURE WILL INCREASE, WITH MORE DOMESTICALLY PRODUCED CHIPS SET TO BE DEPLOYED IN THE SECOND HALF OF THIS YEAR

IMF'S GEORGIEVA: WE ADVISE EUROPEAN GOVERNMENTS TO HAVE TARGETED MEASURES REGARDING OIL PRICES, WITH CLEAR EXIT STRATEGY

US / Trump & China - Trump to meet Xi Jinping Thursday in Beijing at 10:15 AM local time (10:15 PM ET) - Trump says he will discuss U.S. arms sales to Taiwan with Xi - Kyodo - Trump: “China’s strong, but we’re stronger than China militarily”; expects meeting with Xi to be “good” - Chinese officials in talks with U.S. counterparts to purchase American agricultural products including corn, sorghum, distillers dried grains, and soybeans China / Economy & Corporate - OpenAI to save $97B through 2030 under latest Microsoft deal - The Information - China domestic flight fuel surcharge to rise again starting May 16 - Yicai - China’s market regulator conditionally approves Tencent’s acquisition of shares in Ximalaya - Vanke board approves framework for Shenzhen Metro Group to provide 2.5B yuan shareholder loan, plus supplemental agreement for 22B yuan loan Geopolitics / Iran - Iranian parliamentary commission: Tehran could enrich uranium up to 90% if U.S. attacks; parliament will discuss - X post - Pentagon considering re-naming Iran war plan “Sledgehammer” if ceasefire collapses - NBC - U.S. military may launch “Operation Sledgehammer” against Iran, bypassing congressional 60-day war power limits Other US Developments - Kevin Warsh confirmed to Fed Board; chair vote pending - U.S. appeals court temporarily pauses trade court ruling against Trump’s 10% tariffs under Section 122 Tech / Innovation - Unitree unveils GD01, a manned transformable mecha starting at $650,000