Brazil foreign minister Mauro Vieira said on June 4 the U.S. rationale for recently proposed tariffs on Brazilian goods "does not hold." He said Brazil has submitted information to rebut the U.S. investigation's findings and is willing to continue dialogue with Washington.

港股开盘，恒指开跌0.27%，科指开跌0.31%，半导体板块多股开跌，兆易创新(03986.HK)开跌4.13%，华虹半导体(01347.HK)开跌3.51%。

Consensus clustered at 4.3% (Refinitiv 4.3%). Danske Bank is the low outlier at 4.2%; Sparta Securities, Capital Economics, Oxford Economics, Pantheon Macroeconomics, Standard Chartered, TD Securities and Wells Fargo sit at 4.4%. Major banks forecasting 4.3% include ANZ, ABN AMRO Bank, BNP Paribas SA, Barclays, BofA, Citigroup, Commerzbank, Daiwa Capital, DekaBank, Deutsche Bank, Goldman Sachs, Helaba, HSBC, ING, JP Morgan, Jefferies, Mizuho, Morgan Stanley, Nomura, UBS and Lianxin Bank.