Volvo Cars targets 30% component commonality by 2030 and a 5% reduction in raw-material costs.

Hong Kong midday: HSI down 0.73%, Hang Seng Tech Index down 0.76%; half-day turnover HK$99.15 bln. Gold miners, non-ferrous metals, battery and PCB names led declines; CRO/pharma outsourcing and power equipment sectors outperformed. Notable movers: Tianshu Zhixin (09903.HK) up ~7%, Weichai Power (02338.HK) up >4%, Tigermed (03347.HK) up ~4%, WuXi AppTec (02359.HK) up >2%; Shandong Gold (01787.HK) down >7%, Laopu Gold (06181.HK), Longfor Group (00960.HK) and Zijin Mining (02899.HK) down >3%.

MOFCOM spokesperson He Yadong said at a regular briefing on the 17th that China noted the European Commission's draft public procurement law includes a 'Europe First' clause, requires bid-evaluation criteria to factor in security and other non-market considerations, and would exclude or restrict third‑country firms that do not meet conditions. China said it is highly concerned, urged the EU to comply with WTO rules, keep markets open and amend discriminatory provisions to ensure a fair, transparent, non‑discriminatory environment for firms investing and operating in Europe. China will closely monitor the EU's legislative process and assess the implications in a timely manner.