Japan April construction orders YoY -32.3% vs -14.4% prior.

At today's Vanke shareholders' meeting, management said it has implemented a market-value management system and a Valuation Enhancement Plan in 2025 to drive systematic value improvement tied to operations and long-term strategy. Management warned valuation repair will not be achieved overnight and requires a comprehensive risk-mitigation program, ongoing asset-liability optimization and restoration of normal profitability. On capital operations, Vanke will continue to divest non-core and low-efficiency businesses and assets and optimize cash flow and the balance sheet to underpin long-term value recovery.

US Secretary of State Rubio said the State Department has designated Brazil's Red Command and First Capital Command as Specially Designated Global Terrorists, effective June 5.