ASEAN Caught in the Crossfire as US-China Tech War Heats Up

The yen surged nearly 4 per cent against the Singdollar since July 30 after Japan and the US staged a rare joint intervention to arrest its slide to 40-year lows. Japan spent almost US$59 billion buying yen, with US Treasury Secretary Scott Bessent signalling readiness for more coordinated action. For Singaporeans with Japan trips planned, your budget just got a reprieve. But the bigger story is what this tells us about the shifting alliances...