🔥 Biya Morning Brief | Key Global Market Highlights, June 3 1️⃣ Macro The U.S. has signed a new executive order strengthening regulatory oversight of advanced AI, requiring large AI models to undergo testing prior to release and promoting unified cybersecurity standards—marking further escalation in AI regulation. The U.S. and Iran are engaged in urgent negotiations regarding the opening of the Strait of Hormuz. Markets are closely watching whether an agreement can be reached, as developments could impact global energy supplies and risk asset performance. 2️⃣ Precious Metals & Crude Oil WTI crude oil rose 0.57% to $94.29 per barrel. Ongoing tensions in the Middle East continue to support elevated oil prices. Gold dipped 0.12% to around $4,514 per ounce. With the U.S. dollar index holding above 99, gold faces relative downward pressure. 3️⃣ Hong Kong Stocks Hong Kong’s three major indices opened lower: the Hang Seng Index fell 0.33%, and the Hang Seng Tech Index dropped 0.70%. Kingstone Biotechnology surged nearly 15%, and Summit Therapeutics rose nearly 5%; Shougang Langze debuted with a peak gain of over 90%, reflecting continued strong momentum in the new listing market. 4️⃣ U.S. Stocks U.S. major indices closed slightly higher: the Dow rose 0.45%, the S&P 500 closed above 7,600 for the first time, and the Nasdaq edged up 0.03%. AI-themed stocks continued to lead the market, with Marvell Technology surging 32% and Hewlett Packard Enterprise rising nearly 20%; Apple climbed nearly 3%, regaining its position as the world’s second-largest company by market cap. 5️⃣ Cryptocurrencies The cryptocurrency market continued its correction: BTC fell into the $66,000–$67,000 range, down approximately 5–6% over 24 hours and more than 40% from its yearly high; ETH retreated to around $1,850, and SOL dropped to near $74, with most major cryptocurrencies weakening in tandem. Market pressure stems from rising geopolitical risks, outflows from Bitcoin ETFs, and sustained capital inflows into AI-related tech stocks. Short-term sentiment remains cautious.