Banco do Brasil shares fell about 31%.

A-shares opened weaker: ChiNext fell more than 2.0%, the Shenzhen Component Index dropped 1.12% and the Shanghai Composite Index fell 0.39%. Crude palm oil (CPO) names, China shipbuilding-related stocks and MLCC concept shares led declines.

Saudi Arabia plans to store its crude in underground caverns on Singapore's Jurong Island from H2 2027 to strengthen regional supply security, Saudi and Singapore energy ministers said on Monday. The announcement, made at Singapore International Energy Week, comes as the US and Israel's war with Iran has severely disrupted Strait of Hormuz flows; before the conflict about two-thirds of Asia's crude came from the Middle East. ARAMCO will sign an MoU on Monday with Singapore's Energy Market Authority and Jurong Group, with negotiations targeted to conclude within months.