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San Jose-based Allay Therapeutics has secured $57.5 million in a Series D financing round led by Lightstone Ventures and Temasek’s ClavystBio, with participation from existing and new investors. The funds will support a Phase 2b trial for ATX101, an investigational analgesic for post-surgical pain management in knee replacement patients, with results expected in Q4 2025. This investment reflects growing interest in the pain management market, projected to reach $109.9 billion by 2028, and highlights a shift towards non-opioid therapies amid changing regulatory landscapes.
The U.S. Treasury Department has urged the Bank of Japan (BOJ) to continue tightening its monetary policy to address the yen's weakness and promote a rebalancing of trade. The report highlights that Japan's ultra-low interest rates contribute to the yen's depreciation against the dollar, with the BOJ's gradual rate hikes being closely monitored. Despite recent increases, economists expect the BOJ to maintain steady rates through September, with a potential hike by year-end.
Indonesia's Ministry of Communication and Digital Affairs aims to shift all telecommunications device testing to local facilities by 2026, addressing past reliance on foreign labs. The Indonesia Digital Test House, operational since May 2024, seeks to enhance self-reliance and meet international standards, with a focus on boosting the local economy and improving telecommunications infrastructure across the archipelago.
Tokopedia faces challenges following its merger with TikTok Shop, as sellers and employees express concerns over new policies favoring large brands and job cuts. Meanwhile, the Indonesian e-commerce landscape is shifting, with Shopee gaining traction among consumers. In contrast, Chinese tech startups are preparing for IPOs despite economic headwinds, eyeing the Hong Kong Stock Exchange as a favorable option.
The Biden-era semiconductor grants are being renegotiated under President Trump to enhance taxpayer value, with potential cancellations of some awards. The Chips and Science Act allocated $52.7 billion to boost U.S. semiconductor production, as firms like TSMC and Intel received funding. TSMC has increased its U.S. investment commitment from $65 billion to $165 billion, reflecting a shift towards demanding more private investment for government funding amid a declining U.S. market share in semiconductor manufacturing.
SMBC Nikko Securities has made a strategic investment in Hashed Ventures’ blockchain fund, marking a significant shift in Japan's financial landscape towards Web3 opportunities. This collaboration, facilitated by the Nikko Open Innovation Lab, reflects a growing trend of institutional adoption of blockchain technology in Japan, supported by recent regulatory advancements. The partnership aims to connect Japanese cultural heritage with global NFT initiatives, showcasing a unique approach to digital asset tokenization.
South Korea's economy contracted by 0.2% in Q1 2025, marking its first negative growth in nine months, driven by domestic political unrest and uncertainties from US tariff policies. Exports fell by 0.6%, and private spending decreased by 0.1%, reflecting weakened consumer confidence amid the turmoil following the declaration of martial law.
Hyundai and Kia have divested their stakes in Ola Electric, selling shares amid the company's financial struggles, including a Q4 FY25 loss of ₹870 crore and a 62% revenue decline. This retreat signals growing skepticism about the maturity of India's EV market, contrasting with earlier optimistic projections. Ola's market share has plummeted, highlighting the challenges faced by EV startups against established manufacturers.
South Korea's new president is advocating for a comprehensive reform agenda focused on cryptocurrency. This initiative aims to enhance regulatory frameworks and foster innovation within the digital asset sector, positioning the country as a leader in the evolving crypto landscape.
South Korea's new president, Lee Jae-myung, is advancing a pro-cryptocurrency agenda, including lifting the ban on spot ETFs and establishing a stablecoin market linked to the won. His administration aims to enhance regulations on stablecoins and improve exchange transparency, reflecting a significant shift in political attitudes towards crypto.Despite past regulatory challenges, South Korea's crypto market has shown resilience, with about 20% of the population engaged in exchanges. The country is positioning itself as a leader in crypto governance through a balanced regulatory approach that supports innovation while ensuring investor protection.
KOR
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Allay Therapeutics secures 57.5 million for innovative pain management trial
08:41 06.06.2025
us treasury urges bank of japan to continue monetary tightening policy
07:50 06.06.2025
Indonesia aims for complete local telecom testing by 2026
05:22 06.06.2025
Tokopedia faces challenges after TikTok Shop acquisition impacts sellers and employees
11:30 05.06.2025
Trump administration renegotiates semiconductor grants to enhance taxpayer value and competitiveness
08:20 05.06.2025
Japan's SMBC Nikko invests in Hashed Ventures to boost blockchain innovation
United States Dollar
SMBC Nikko Securities Inc.
Sumitomo Mitsui Financial Group Inc.
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08:00 05.06.2025
south korea's economy contracts amid political unrest and trade uncertainties
05:20 05.06.2025
hyundai and kia divest from ola electric amid market challenges
11:00 04.06.2025
South Korea's president advocates for comprehensive cryptocurrency reform initiatives
09:07 04.06.2025
south korea's president champions pro-crypto reforms and regulatory innovation
08:30 04.06.2025
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