Opening Bell ð is Tech in Asiaâs free newsletter that brings you the biggest news and latest trends around Asiaâs publicly listed tech companies. [Read from your browser]( Opening Bell ð Welcome to the Opening Bell! Delivered every Monday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and latest trends on Asiaâs publicly listed tech companies. If youâre not a subscriber, get access by [registering here](. --------------------------------------------------------------- Written by Samreen Ahmad
Journalist Hello {NAME} Once bitten, twice shy. Three years ago, I bought some clothes from a seller on Instagram. The discounts were amazing, so I ordered in bulk. But after weeks of waiting, none of my dresses arrived. That's when I realized the page was a fraud. Nowadays, I choose cash on delivery whenever I order anything on Instagram. I recently purchased some spinner toys for my child, and I paid the rider in cash when I received the parcel. But lo and behold, the package didnât contain any of the items I had ordered. After this, I decided: no more shopping on social media. Apparently, Iâm not the only one who imposed a shopping ban. In September, Indonesia began prohibiting direct transactions on social media platforms like TikTok, which has [125 million monthly active users]( in the country. While many [sellers are staying put]( on TikTok Shop, the ban has certainly dealt a blow to the platformâs ecommerce dreams in Southeast Asia. Complaints against TikTok from officials in [Malaysia]( and [Vietnam]( in recent weeks certainly havenât helped. In this weekâs Big Story, Benjamin Cher of The Business Times analyzes if TikTokâs loss would be a gain for ecommerce marketplaces like Shopee and Lazada. Can they turn this to their advantage? Read on to find out. -- Samreen
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THE BIG STORY [Shopee, Lazada may struggle to fill void left by TikTok Shop](
TikTok must also decide whether Southeast Asia's political dynamics are worth the commitment. ---------------------------------------------------------------
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3 TRENDS TO KEEP EYE ON Hot stocks, earnings reports, restructuring, pressure from activist investors, and more. 1ï¸â£Â WeWork (WE, NYSE) stares at bankruptcy: Once privately valued at US$47 billion, the co-working space startup is now on the verge of filing for bankruptcy. With its stock losing about [96% of its value this year]( WeWorkâs business model of taking long-term leases on office spaces and renting them out for shorter terms to tenants are again in question. 2ï¸â£Â An ad-free Meta (META, Nasdaq)?: The European Data Protection Board has decided to [ban]( Meta from using the personal data of users for targeted advertisements. The ban - the latest setback for the tech giant - will apply to all 30 countries in the European Union and the European Economic area. This could be a hurdle for Meta as it had recently announced an ads-free subscription-based model for Facebook and Instagram users in Europe. The ban will have a direct impact on the US-based companyâs plan to earn via subscriptions. Meta's average price per ad has already [decreased by 6% year-on-year]( during the September quarter. 3ï¸â£Â Shadow over Google (GOOGL, Nasdaq) Cloud: The business is facing its[ slowest revenue growth]( in at least 11 quarters. In the three months ending September, Google Cloudâs revenue grew 22.5% to US$8.41 billion, but thatâs still below Wall Street estimates. The economic slowdown is making companies take drastic cost-cutting measures, with the ax falling on AI-related budgets. However, Microsoftâs [AI bets are paying off]( and its cloud business climbed 29% during the September quarter.
 2 EYE-POPPING NUMBERS Tech in Asia scours the internet to bring you head-turning numbers from the world of business. - [2.5 million]( The number of Apple (APPL, Nasdaq) smartphone shipments that India recorded during the July to September quarter. It was the highest-ever quarterly figure logged by the company in the country.
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- [US$2 billion:]( The amount Google plans to invest in Anthropic, an AI startup founded by ex-OpenAI executives. Known as Claude 2, Anthropicâs chatbot is expected to go up against OpenAIâs ChatGPT. THE ONE YOU DIDN'T SEE COMING We spotlight the story that had everyone talking and social media buzzing during the past week. Foxconn (2354, TW) eyes EVs after iPhones: The worldâs largest contract manufacturer of Apple devices is aggressively [eyeing the electric vehicle market]( and is looking into setting up a manufacturing plant in India. Taiwan-based Foxconn aims to generate [US$33 billion in revenue]( from making EVs and components by 2025. With Apple sales [falling]( for the fourth consecutive quarter, it is perhaps not surprising that Foxconn is exploring other opportunities. But churning out EVs could still be a leap. Since Foxconn is the world's largest electronics producer, it could be seen as a strong candidate to manufacture EV components. But unlike smartphones, electric cars have [thousands of components]( so the nuances and scale of manufacturing involve more detail. Will EVs be the next moneymaker for Foxconn? Weâll have to wait and see.
 Thatâs it for this edition - we hope you liked it! Not your cup of tea? You can unsubscribe from this newsletter by going to our preference center at the bottom of this email. Happy investing and see you next week! Disclaimer: This content is for informational purposes only. Kindly do not construe any such information as legal, tax, investment, financial, or other advice. [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](
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