At midday, China stock index futures most-active contracts: CSI 300 (IF) down 1.09%, SSE 50 (IH) down 1.33%, CSI 500 (IC) down 1.68%, CSI 1000 (IM) down 1.70%.

Germany's finance ministry says the country's debt-to-GDP ratio will rise to 69.5% in 2027.

Saxo chief investment strategist Charu Chanana said that after Samsung's nearly 150% YTD rise, investors now demand confident guidance, durable pricing and clear evidence that AI-driven demand is still accelerating. The key market risk is whether today's memory-chip supply bottleneck becomes tomorrow's capacity glut. Investors will focus on Samsung's full Q2 results due later this month; if guidance implies slowing price gains, rising capex, cautious customers or weaker visibility, they may begin to reclassify memory chips as a late-cycle trade rather than an early-cycle growth story.