Here Comes HSBC China Flash PMI...

HSBC China Flash manufacturing PMI for April is out at 9:45 p.m. ET.

Economists polled by Bloomberg are looking for manufacturing to rise to 48.3, from 48 the previous month.

A reading below 50 indicates contraction.

Chinese GDP climbed 7.4% in the first quarter, confirming the economic slowdown economist and investors have been talking about.

Policymakers have set a growth target of 7.5% for 2014, and economists expect they have a floor of 7% GDP growth for the year.

A disappointing flash PMI number will only add to concerns about a possible hard landing.