Across Asia

• Twelve leading payment startups in Southeast Asia have collectively raised over $2.7 billion in equity funding to date, according to a Tracxn report released Wednesday. • Airwallex dominates the sector, raising $1.9 billion since 2015—including a $320 million round in June 2026—which accounts for nearly 70% of the total capital. • The funding landscape is heavily concentrated, with the top two companies representing approximately 83% of all capital raised across the 12 firms.

• Mercis and WildBrain CPLG have partnered to expand the "Miffy and Friends" brand into location-based entertainment (LBE) across multiple global regions. • The expansion targets the development of theme parks, resorts, and family entertainment centers in China, South Korea, Southeast Asia, and the Middle East. • This strategic move aims to increase the brand's physical presence and consumer engagement through immersive experiences beyond traditional merchandise.

From Afghanistan to Taiwan, unprecedented deluge highlights devastating impact of climate breakdown“It rained for 10 days and 10 nights, non-stop – I’d never seen anything like it,” says Anar Gul, a construction worker who lives in the remote district of Dur Baba in eastern Afghanistan.The houses in his village are built from stone and mud, which makes them extremely vulnerable to heavy rains. After days of rain, Gul’s kitchen collapsed and his neighbour, Sayed Afsar Sadat, saw a large part of his house completely destroyed. “Rains like this are coming heavier and earlier each year,” says Sadat. “They are destroying the roads and washing away our crops. It’s impacting us directly.” Continue reading...

• A youth-led movement in India, dubbed the ‘cockroach’ protests, has rapidly expanded from a massive online presence to a potent political force, eclipsing the BJP's social media reach. • The movement follows a broader South Asian trend where digital outrage translates into mass street mobilizations, similar to recent government-toppling protests in Bangladesh, Nepal, and Sri Lanka. • Despite these parallels, analyst Namita Singh suggests a crucial difference exists that makes a similar regime-change outcome far less likely within the Indian context.

• Entertainment company CJ ENM has received 12 nominations across seven different categories at the ContentAsia Awards 2026. • Hosted by the ContentAsia media platform, these awards highlight premium content and creative talent from the Asia-Pacific region. • The nominations underscore CJ ENM's growing competitiveness and influence within the global content market.

• South Korea's KOSPI index triggered a circuit breaker as a significant selloff in AI-driven technology stocks swept across Asian markets. • Key industry players were impacted, with Taiwan Semiconductor Manufacturing slipping about 2% and Foxconn Technology Co Ltd easing roughly 1.6%. • The volatility follows preliminary earnings from Samsung Electronics, which failed to convince investors that memory-chip profits can sustain the massive capital spending required for AI.

• Falling crude oil prices are providing "disinflationary relief" to several Asian nations, including India, Thailand, and the Philippines. • This trend reduces pressure on external accounts for heavy energy importers, granting the Reserve Bank of India (RBI) and other central banks more flexibility to prioritize economic growth. • The impact remains uneven across the region, as some economies, such as South Korea, may still experience inflation driven by the AI boom.

• Recent technological developments across the ASEAN and Asia-Pacific regions highlight a shift toward practical applications and emerging digital economies. • Key highlights include the rise of the low-altitude economy in Malaysia and the deployment of niche mobile data networks designed for family safety. • The region is experiencing a tension between computing breakthroughs and the implementation of strict new consumer regulations.

• Major Asian stock indexes, including the Nikkei, Kospi, Hang Seng, Taiex, and Shanghai composite, experienced a massive sell-off on Friday. • The plunge was triggered by a rush to cash out on AI-related gains following significant losses on Wall Street. • This "bloodbath" wiped out billions in market value as traders reacted to volatility in the high-growth artificial intelligence sector.

• Asian markets experienced a sharp decline on Friday, driven by a global technology sell-off fueled by concerns over AI valuations, rising chip costs, and quarter-end profit booking. • South Korea's KOSPI plummeted 8.2%, leading authorities to halt program trading for 20 minutes, while Japan's Nikkei 225 dropped 5%. • Other regional losses included Hong Kong's Hang Seng falling 2.4%, China's CSI300 slipping 2.9%, and the Shanghai Composite losing over 2%.

• Asia secured one Silver Lion and three Bronze Lions across the Cannes Entertainment tracks, including categories for Gaming, Music, and Sport. • Notable Bronze winners include LePub Singapore for Tiger Beer’s ‘Curfew Hostels,’ Luck Tokyo for Mazda’s ‘Goodbye RX-7,’ and Whatever Tokyo for Kao Corporation’s ‘Silent Cleaning.’ • The awards highlight creativity that transforms branded content into culture, with only 20 Lions (3 Gold, 6 Silver, 10 Bronze) awarded from 656 total entries.

• South Korea's KOSPI benchmark crashed over 8%, triggering a regional domino effect that saw Japan's Nikkei fall 3% and Taiwan's markets retreat. • The sell-off was driven by an "AI trade unwind," as investors rotated out of major technology stocks due to concerns over stretched valuations and rising AI spending. • Other regional markets were impacted, with Hong Kong's Hang Seng Index slipping 0.4% to 23,678 and India's Nifty 50 remaining flat as foreign institutional investors paused emerging market allocations.

• Lazada has reduced its workforce by approximately 5% as part of a strategic review across its South-east Asian operations. • The layoffs impact employees across six key markets: Singapore, Malaysia, Thailand, Indonesia, Vietnam, and the Philippines. • Contrary to industry trends, reports indicate that these job cuts are not related to the implementation of AI initiatives.

• V47 Entertainment, via its agency VIRTUE Asia, announced a partnership with COL Group on June 17, 2026, to expand microdrama and vertical-first entertainment in South East Asia. • The collaboration aims to provide brands with increased access to short-form storytelling, leveraging COL Group's expertise as a pioneer in the vertical video format. • This move matters as it allows brands to engage audiences through a rapidly growing medium of bite-sized, mobile-centric content tailored for the regional market.

• Filipino fans are increasingly engaging in "seichi junrei" (anime pilgrimages), driving a significant surge in travel to real-world destinations across Asia that inspired popular series. • Data from Trip.com reveals a 155% year-on-year increase in searches for anime- and comic-related travel in the Philippines for 2026. • This trend highlights the Philippines as a key growth market, fueling demand for themed accommodations, fan conventions, and screen-inspired sightseeing.

• Asia Pioneer Entertainment Holdings Limited (APE) is expanding its casino tourism services across Asia to revitalize the gaming and entertainment markets in Macau and Hong Kong. • APE has partnered with Germany-based CountR GmbH to implement "smart CountR" casino payment technology, moving beyond the supply of traditional gaming equipment. • This strategic shift aims to accelerate resort growth by integrating modern digital payment solutions to enhance the guest experience and operational efficiency.

• President Trump is in Beijing for a high-stakes summit with Chinese leaders, and reaction across Asia has ranged from cautious optimism to concern about regional stability. • The NPR report notes that governments and observers are watching how the talks could affect trade, security, and diplomatic alignment in the region, especially amid tensions involving China and the United States. • The summit matters because decisions made in Beijing can ripple through Asian markets, alliances, and policy planning, particularly for countries balancing ties with both Washington and Beijing.

• ReN3, an enterprise agentic AI work productivity platform, announced a US$5 million seed funding round to expand operations across Southeast Asia, focusing on accuracy and deployment flexibility for regional enterprises. • The funding will support ReN3's growth in the region as it positions itself as a solution for enterprise productivity automation through agentic AI technology. • The investment reflects growing venture capital interest in AI-powered enterprise solutions targeting the Southeast Asian market, where digital transformation adoption is accelerating.

• U.S. stock markets closed lower Thursday as an energy shock continued weighing on investor sentiment, with the S&P 500 falling 0.27%, the Dow Jones Industrial Average dropping 0.44%, and the Nasdaq Composite declining 0.28%. • Commodity-linked stocks experienced severe selloffs: gold fell 4.94%, aluminum dropped over 5%, mining shares plummeted with Hycroft Mining sliding 12.4% and Century Aluminum falling 10.3%. • Asian markets showed mixed performance Friday, with South Korea's Kospi rising 0.6% and China's Shanghai Composite edging 0.2% higher, while Hong Kong's Hang Seng slipped 0.6%, Australia's S&P/ASX 200 fell 0.5%, and Taiwan's Taiex declined 0.2%, with Japan's markets closed for a holiday.