Brent crude fell below $92/bbl, down 2.52% on the day.

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.

The SFC today issued a revised circular expanding listed structured funds to include single-stock leveraged and inverse products referencing highly liquid, ultra-large-cap Hong Kong-listed shares. For all leveraged and inverse products the SFC requires providers to continuously monitor product capacity to support target leverage or inverse exposure, maintain adequate buffers and promptly notify the SFC of potential operational disruptions. For single-stock leveraged and inverse products the regulator added tighter provider eligibility standards and mandates robust business-continuity plans to mitigate elevated operational risk. The SFC also requires automatic suspension of the product if the underlying Hong Kong-listed stock is temporarily paused or suspended; existing safeguards remain, including a maximum leverage cap of +2x to -2x.