Asian

• The Bank of Japan maintained interest rates at 1% following a rare intervention to support the yen. • Economic indicators show China's factory activity has declined for the first time in five months, signaling a potential slowdown. • South Korea's stock market experienced a massive surge, recording a historic 18% increase.

• Asian cinema is increasingly challenging Hollywood's dominance at the Malaysian box office heading into 2026, driven by a surge in regional productions. • Filmmakers from China, Korea, Japan, Thailand, and Malaysia are gaining traction by prioritizing cultural identity, emotional depth, and authentic, independent storytelling. • Industry experts, including actress Pearlly Chuah, note that while Hollywood focuses on commercial franchises, Asian films offer distinctive artistic voices that resonate more deeply with local audiences.

• BTS has announced they will boycott the 69th Grammy Awards by refusing to submit their music for consideration for the 2027 ceremony. • Recording Academy advisor Zeena Koda, who helped create the Best Asian Pop Music Performance category, accused the group of treating the situation as a "press campaign" that undermines efforts for Asian representation. • The conflict highlights ongoing tensions between the K-pop supergroup and the Recording Academy regarding recognition and the impact of the new category.

• BTS has decided to boycott the Grammy Awards, marking the first time the global K-pop superstars have opted out of the ceremony. • The decision follows the Recording Academy's June 16 announcement of a new award category dedicated to Asian pop music from regions including South Korea, Japan, and China. • This new category aims to recognize artistic excellence in performances that utilize Asian languages and are widely recognized within Asian markets.

• The debate over whether Asian Pop needs its own dedicated Grammy category has resurfaced in India following BTS' previous experiences with the awards. • Artists including Madhubanti Bagchi and Harman Baweja are weighing in on whether a separate category provides necessary recognition or creates a limiting label. • Bagchi argues that while a specific category could be a "good first step," the ultimate goal should be for Asian pop records to win major honors like Record of the Year.

• Asian stock markets experienced a massive rebound, adding nearly $1 trillion in value during a single trading session. • The surge was driven by renewed investor optimism surrounding artificial intelligence (AI) following strong earnings reports from tech giants Microsoft and Amazon. • This recovery marks one of the strongest historical rebounds for the region, signaling a shift in market sentiment toward high-growth tech sectors.

• South Korea’s National Assembly passed a revision to the Criminal Procedure Act on July 31, 2026. • The new legislation officially abolishes the powers of prosecutors to conduct both direct and supplementary investigations. • This move represents a significant shift in the country's legal framework by stripping investigative authority from the prosecution service.