WTI crude oil rose to $87/bbl, up 1.26% intraday.

Germany's Frankfurter Allgemeine reports Volkswagen works council representative Berna criticized the CEO's plan to cut 50,000 jobs, calling it a "strong provocation" and saying the company has "cost issues" that must be resolved.

CMB International says Pop Mart International Group (09992.HK) reported H1 profit 15–20% below market expectations, driven by a 10% drop in Americas sales. An adverse product mix compressed gross margin and intensified margin pressure. CMBI cuts Pop Mart 2026–2028 earnings forecasts by an average 25% and trims 2026–2028 sales forecasts by an average 17%, reflecting further downgrades to overseas sales after the H1 miss. It lowers gross-margin assumptions to reflect a structurally smaller overseas business share and raw-material cost pressure, reducing 2026/2027 gross-margin forecasts by 0.2ppt and 1.0ppt respectively. PT HK$121 based on 14x 2027 P/E. Recommendation: sell.