The Latest Breaking News from Asia

South Korean stocks sank more than two percent Wednesday while the won rebounded from earlier losses after President Yoon Suk Yeol dramatically declared martial law overnight before reversing the decision hours later.

Temasek-backed 65 Equity Partners bought 13% stake in Tuya Inc. (NYSE:TUYA), implying a total investment of US$100 million (or S$134M). The fund's mandate is to support high growth, mid-cap companies seeking a listing on the Singapore Exchange (SGX). The listing will benefit Tuya Inc. by providing easy access to capital…

The gains, which followed another record day on Wall Street, came as traders were also left assessing Washington's decision to impose fresh tech export restrictions on Beijing in the latest volley in a long-running standoff between the rival powers.

In the 1990s, much of Asia's growth was fueled by industrialization and leveraging low-cost labor. Now, Asia is increasingly exporting culture, ideas, technology and leadership.