Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Yes, government influences wages – but not just in the way you might think 
Why have so few atrocities ever been recognised as genocide? 
The ghost of Robodebt – Federal Court rules billions of dollars in welfare debts must be recalculated 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
TikTok, the globally popular app, has announced a multi-billion dollar boost to its investment in Southeast Asia, targeting growth in e-commerce and solidifying its stance amid global data security concerns. The strategic move seeks to promote the TikTok Shop, the platform's e-commerce branch, via advertising, vendor training, and support.
Shou Zi Chew, TikTok's CEO, confirmed in Jakarta that the company, which has over 8,000 employees in Southeast Asia, would funnel billions of dollars into advertising, training, and supporting small business vendors to join its e-commerce platform, TikTok Shop. W
One of TikTok's greatest user markets, Southeast Asia, with a population of 630 million people, half of whom are under 30, attracts more than 325 million monthly users. The app has generated $4.4 billion in transactions across the region and shows no signs of slowing down.
However, despite its massive user base, the platform has yet to establish itself as a major e-commerce revenue source in the region. TikTok aims to boost its e-commerce platform, "TikTok Shop," by investing in advertising, training, and supporting small vendors.
Chew said TikTok's content is growing more diverse and expanding beyond advertising as the company seeks to include e-commerce. Southeast Asia presents a vast economic opportunity, and TikTok's investment signals its determination to stay ahead of its larger rivals, Sea's Shopee, Alibaba's Lazada, and GoTo's Tokopedia.
Despite concerns over data security, TikTok, owned by China's ByteDance, remains committed to Southeast Asia and is confident that it can leverage its popularity and global impact to produce a successful e-commerce platform.
The inclusion of e-commerce will allow consumers to purchase goods through links on the app during live-streaming events. TikTok facilitated $4.4 billion of transactions across Southeast Asia last year, up from $600 million in 2021. Despite the increase, TikTok still trails behind larger rivals, such as Sea's Shopee, which has $48 billion in regional merchandise sales in 2022.
Photo: Solen Feyissa/Unsplash
