Trump Looks Forward to China Trip; US April CPI Data Expected Soon; Kuaishou Plans Spin-off.

Trump Looks Forward to China Visit

On May 11, U.S. President Donald Trump expressed his excitement for his upcoming visit to China from May 13 to 15, calling it "an amazing country." This visit marks the first face-to-face meeting between the leaders of the U.S. and China since their last encounter in Busan last October, and it is Trump's first visit to China in nine years.

Iran-U.S. Tensions

Trump reiterated that Iran must not possess nuclear weapons and described the situation as precarious regarding the ceasefire agreement. He emphasized the need for a "complete victory" over Iran. Meanwhile, Iran's Foreign Ministry stated that their proposals were reasonable and did not include any additional concessions.

U.S. Inflation Week

This week is dubbed "Inflation Week" in the U.S., with key economic data releases including CPI on Tuesday, PPI on Wednesday, and import prices on Thursday. Morgan Stanley's global macro strategy chief anticipates that April's CPI will show a significant increase, influenced by rising oil prices and rents.

Senate Banking Committee to Review Clarity Act

The U.S. Senate Banking Committee is set to formally review the Clarity Act, a bill concerning the structure of the cryptocurrency market. The initial review was halted due to opposition from industry figures regarding stablecoin provisions.

Stock Market Updates

On Monday, U.S. stock indices rose slightly, with the S&P 500 and Nasdaq reaching new highs. Notable movements included:

• Tech Stocks: Google down 3.03%, Apple down 0.13%, Microsoft down 0.59%, Amazon down 1.35%, Meta down 1.77%, Nvidia up 1.97%, Tesla up 3.89%.
• Storage Stocks: Qualcomm up over 8%, Western Digital up over 7%, Micron Technology up over 6%.
• Optical Communication Stocks: POET Technologies up over 26%, Applied Optoelectronics up over 24%.

Circle Reports Q1 Earnings

Circle reported a 20% year-over-year increase in revenue to $694 million for Q1 2026, although net profit fell by 15%. The circulation of USDC increased by 28%.

Lumentum Hits Record High

Lumentum's stock surged 16.52% to $1053.09 after being announced for inclusion in the Nasdaq 100 index, marking a year-to-date increase of 186%.

Other Notable Stocks

• Moderna: Analysts expressed skepticism about revenue opportunities from the hantavirus situation, leading to a nearly 3% drop in stock price.
• TSMC: Reports indicate a shift in the packaging monopoly as SK Hynix collaborates with Intel on EMIB technology.

Upcoming Financial Reports

Key earnings reports are expected from JD.com, Tencent Music, and others, with the U.S. CPI data set to be released at 20:30 Beijing time.