--- title: "【Market Open Go】Trump rejects Iran ceasefire proposal, non-farm data beats expectations, Kunlun Chip aims for a valuation of 100 billion" type: "News" locale: "en" url: "https://longbridge.com/en/news/285859251.md" description: "U.S. stocks closed higher on Friday, with the S&P 500 and Nasdaq reaching all-time highs. Trump rejected Iran's ceasefire proposal, calling its response unacceptable, leading to an increase in Brent crude oil futures. U.S. non-farm payrolls increased by 115,000 in April, with the unemployment rate remaining at 4.3%. The preliminary consumer confidence index from the University of Michigan fell to 48.2, reflecting households' cautious outlook on the economy. China's Vice Premier He Lifeng will visit South Korea for economic and trade consultations. ByteDance plans to increase its AI infrastructure spending by 25%" datetime: "2026-05-11T00:30:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285859251.md) - [en](https://longbridge.com/en/news/285859251.md) - [zh-HK](https://longbridge.com/zh-HK/news/285859251.md) --- # 【Market Open Go】Trump rejects Iran ceasefire proposal, non-farm data beats expectations, Kunlun Chip aims for a valuation of 100 billion May 11, 2026 \[News Summary\] 1. U.S. stocks closed higher on Friday (8th), with both the S&P 500 and Nasdaq reaching new intraday and closing highs. All three major indices recorded gains for the week, with the S&P 500 and Nasdaq continuing their upward trend for the sixth consecutive week. The Dow Jones Industrial Average closed up 12.19 points, or 0.02%, at 49,609.16 points; the S&P 500 rose 61.82 points, or 0.84%, to 7,398.93 points; the Nasdaq increased by 440.88 points, or 1.71%, to 26,247.08 points. The China Golden Dragon Index fell by 33 points. The Nikkei Index opened at 63,410 points, unchanged. 2. U.S. President Trump stated on Sunday that Iran's response to Washington's peace proposal is "completely unacceptable" and accused Tehran of "playing tricks." Brent crude oil futures jumped in early Asian trading today. Iranian media reported that claims regarding Iran's proposal to dilute some highly enriched uranium and transfer the remaining uranium to a third country are untrue. 3. Israeli Prime Minister Netanyahu stated that U.S.-Israeli military actions against Iran are not over, as Iran's existing enriched uranium needs to be removed, enrichment facilities need to be dismantled, and Iran-supported proxies still possess missiles. 4. The U.S. Bureau of Labor Statistics announced that non-farm payrolls increased by 115,000 in April, significantly above market expectations, marking the first consecutive two-month growth in nearly a year, while the unemployment rate remained at 4.3%. 5. The University of Michigan's preliminary consumer confidence index for May fell to 48.2, below market expectations, reflecting American households' continued caution regarding the economic outlook. 6. The President of the Chicago Federal Reserve emphasized that all interest rate options are under consideration and expressed renewed concerns about inflation, believing that price pressures are not solely due to energy shocks. 7. After the U.S. International Trade Court ruled that Trump's 10% global tariffs were invalid, the Justice Department appealed to the Federal Circuit Court, which had previously ruled against the Trump administration in the last round of tariff disputes. 8. Chinese Vice Premier He Lifeng will lead a delegation to South Korea from May 12 to 13 for economic and trade consultations with the U.S. side. 9. According to the South China Morning Post, ByteDance plans to increase its artificial intelligence infrastructure spending by 25% this year to 200 billion yuan. 10. Reports indicate that DeepSeek plans to raise up to 50 billion yuan, with founder Liang Wenfeng potentially contributing up to 20 billion yuan personally. 11. Hong Kong's GDP is estimated to have grown by 5.9% year-on-year in the first quarter. Financial Secretary Paul Chan stated that investment growth over the past few years has only been in single digits or even low single digits, but investment in the first quarter of this year grew by 17% year-on-year, reflecting a positive market outlook; part of the figures includes purchases of machinery, while some are related to construction, indicating a stabilization and gradual improvement in the property market, with expectations of a stronger recovery in the construction industry. \[Focus Stocks\] Oil Stocks: Sinopec (00386), PetroChina (00857), CNOOC (00883) - Trump rejected Iran's response to the peace proposal, causing Brent crude oil prices to surge in early Asian trading on Monday. Baidu (09888) GPU Concept Stocks: Bairun Technology (06082), Tianxu Zhixin (09903) - Baidu's subsidiary Kunlun Tech aims for a valuation of at least HKD 100 billion upon its Hong Kong listing. Chip stocks: SMIC (00981), Hua Hong Semiconductor (01347), ASMPT (00522) - Reportedly reached a preliminary chip manufacturing agreement with Apple, Intel surged over 19% at one point. Alibaba (09988): - Reportedly plans to integrate its AI platform Qianwen with Taobao. Shimao Group (00813) - April contract sales amounted to RMB 1.21 billion, a year-on-year decrease of 39.6%. Yuexiu Property (00123): - April contract sales amounted to RMB 8.50 billion, a year-on-year decrease of 17.4%. Swire Properties (01972) - In the first quarter, Swire Plaza office rents fell by 14%, while retail sales at Citygate Outlets rose by 22%. Qutai Technology (01478) - In April, sales of camera modules and LiDAR increased by 32% year-on-year, while sales of biometric modules rose by 6%. Dama Entertainment (01060) - Expects annual net profit to increase by no less than 92%. LeddarTech (01236) - Oversubscribed 6,707 times, the second highest this year, grey market up 89%, listed today. 【Oil and Gold Prices】 New York crude oil rose by 3.14%, reported at USD 98.42 per barrel. Brent crude oil rose by 3.12%, reported at USD 104.45 per barrel. Spot gold fell by 0.35%, reported at USD 4,698.24 per ounce. 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