Asia-Pacific news from the last 24 hours, AI-curated by PiQ Markets

China's economy shows a widening divide, with high-tech hubs like Zhejiang and Anhui experiencing accelerated growth while traditional sectors and property markets struggle, contributing to a national GDP growth of 4.7% in the first half of 2026. This economic pressure is forcing young workers to share living spaces to reduce costs. Meanwhile, India's industrial output surged 7.3% in June, driven by manufacturing. Singapore anticipates steady growth but flags AI as a major uncertainty, while Hong Kong expects its export growth and GDP outlook to be sustained by the AI boom.

China has issued a sweeping rejection of international claims that its industrial overcapacity is a result of state subsidies, attributing production imbalances to market dynamics. This defense comes as the US and EU prepare to implement new trade barriers. Concurrently, China's market regulator is set to meet with solar industry representatives to address "irrational competition" and price wars stemming from excess capacity, aiming to guide them on pricing compliance and cost-accounting standards to improve profit margins.

SK Hynix reported a significant surge in its second-quarter net profit, which increased by 1,242.5% year-over-year to 93.92 trillion won. This performance exceeded analyst expectations, driven by robust demand for artificial intelligence chips. The company also achieved record revenue and operating profit, highlighting a strong operating profit margin of 76%. This financial success underscores SK Hynix's strong position in the AI semiconductor market.

India's 'Cockroach' movement is threatening to reignite nationwide protests following the alleged detention and harassment of hundreds of students. The movement accuses the government of violating a promise not to penalize student demonstrators. Police have reportedly filed cases against students in multiple states, escalating tensions and raising concerns about the future of youth-led activism in the country.

Turkey is developing Ataturk Airport into Terminal Istanbul, a vast hub for startups and entrepreneurs. The project, slated to open its first phase next month, aims to draw global investment and businesses. Agreements have already been reached with Techstars and Shanghai State-owned Capital Investment for the initiative.

Japanese film studios Toho and Toei are making a strategic return to the U.S. market. Both companies aim for simultaneous releases in Japan and the U.S., a departure from previous staggered rollouts. They will also leverage streaming platforms to reach a wider audience. This renewed push is a response to a declining domestic film market in Japan and is partly inspired by the international success of South Korean entertainment.

South Korean President Lee Jae Myung and Brazilian President Luiz Inacio Lula da Silva have agreed to strengthen bilateral cooperation and revive talks for a South Korea-Mercosur Free Trade Agreement. The leaders identified aircraft, critical minerals, and cosmetics as priority sectors for future collaboration. This agreement signals a renewed focus on economic ties between the two nations, aiming to expand trade and investment opportunities across various industries.

Hong Kong's retail sector is experiencing a downturn as residents increasingly shop and dine in Shenzhen, mainland China. This shift is attributed to lower prices and a broader selection of goods available across the border. The trend has become particularly evident during holiday periods, marked by a significant increase in cross-border travel to Shenzhen, contributing to a noticeable quietness in Hong Kong's typically bustling retail areas.

South Korea's Financial Services Commission is preparing a new Digital Asset Basic Act that will consolidate regulations for stablecoins and exchanges. This move aims to establish a more unified framework for digital assets within the country. Concurrently, opposition lawmakers are advocating for the repeal of the 22% cryptocurrency income tax, which is scheduled to be implemented in 2027. The proposed tax has faced significant opposition, with proponents of repeal arguing it could stifle the domestic crypto market.

Indonesia's policy of resource nationalism is testing its robust financial ties with China. This shift, focused on controlling the export of critical minerals and raw materials, could alter investment and trade dynamics between the two nations. The implications for their significant financial relationship are becoming a key point of observation as Indonesia asserts greater control over its natural resources.

Chinese toymaker Pop Mart has launched its first "Pop Bakery" concept store in Southeast Asia, located at Singapore's Resorts World Sentosa. This opening coincides with a new Pop Mart store in the same location. The expansion into Singapore occurs as Pop Mart experiences a slowdown in its domestic sales and a normalization of demand following a period of strong intellectual property performance.

Chinese biotech firms are reporting a record surge in out-licensing deals, indicating a robust expansion of their global reach. This growth is happening despite heightened scrutiny from the United States, which has led to concerns about potential trade and regulatory challenges. The trend suggests a strategic pivot by Chinese companies to secure international partnerships and market access while navigating an increasingly complex geopolitical landscape.

China's Premier Li Qiang visited the city of Tangshan to mark the 50th anniversary of the 1976 earthquake. This commemorative trip is usually led by President Xi Jinping, who was in Beijing hosting a foreign leader during Li's visit. Li paid his respects on Xi's behalf, highlighting the significance of the anniversary and the city's resilience.

A Hong Kong bookshop, a fixture for 50 years, is closing down after a national security police raid. The raid resulted in the confiscation of items, prompting the owners to decide to cease operations. This closure marks the end of an era for the long-standing establishment.

Hong Kong is leading clinical trials for breast cancer and eye treatments throughout the Greater Bay Area. This initiative aims to speed up medical progress and improve patient access to new therapies across the region. The program leverages Hong Kong's strengths in research and development to benefit a wider population.

The Hong Kong Shopping Festival is targeting expansion into Southeast Asian markets, with Singapore and Malaysia identified as the first countries for this growth initiative. The festival aims to leverage its success in Hong Kong to establish a presence in these new regions. This strategic move is expected to boost cross-border retail and tourism between Hong Kong and the targeted ASEAN nations.

Malaysia's upcoming Negeri Sembilan state election may hinge on the 'mobile electorate,' primarily young voters who have relocated for work or education. These voters, often residing away from their registered polling stations, represent a significant demographic whose turnout and voting preferences could determine the final results. Their participation is seen as a key factor that could swing the election outcome in this crucial state poll.

Hong Kong is revamping its public inquiry hotline, drawing inspiration from Beijing's approach to service delivery and efficiency. The initiative seeks to improve public access to government information and services. Officials are looking to Beijing's model to enhance the hotline's operations and user experience, aiming for a more effective communication channel between the public and government agencies. This revamp is part of a broader effort to modernize public services and ensure citizens can easily obtain the information they need.