TOKYO -- The South Korean military recently conducted its first successful underwater test of a domestically developed submarine-launched ballistic missile. SLBMs are highly elusive strike weapons, since they can hide from reconnaissance satellites. The country has also embarked on building a 30,000-ton light aircraft carrier capable of accommodating F-35 stealth fighters.

A growing number of South Korean politicians are calling for the development of a nuclear-powered submarine. Seoul's military buildup raises some important strategic and geopolitical questions.

TOKYO -- Japan's benchmark stock index touched its highest level in 31 years on Tuesday morning, spurred by gains in U.S. shares and hopes Japan's next prime minister will spend big to boost the economy.

The Nikkei Stock Average rose over 1% at one point to hit 30,795.78, before paring back some of the gains in the morning session, although it remained above the closing price of 30,467 yen marked in February and

LONDON -- The European Union will seek new digital partnerships with Japan, South Korea and Singapore, and closer trade and investment relations with Taiwan in an effort to build influence in Asia after the chaotic western military exit from Afghanistan.

The bloc will seek to reinforce semiconductor value chains with Asian partners as the pandemic amplifies fears about industrial supply chain vulnerabilities, according to a draft Indo-Pacific strategy document seen by Nikkei Asia.

China is at the center of the EU's concerns, although the document calls for a "

SINGAPORE -- Grab on Tuesday cut its earnings projections for this year, citing uncertainties stemming from the prolonged COVID-19 crisis in Southeast Asia.

The Singaporean "super app" is one of Southeast Asia's biggest tech startups. It offers delivery, ride-hailing, financial and a range of other services, and plans to go public in the U.S. later this year.

According to its announcement, Grab now expects to post gross merchandise value of $15 billion to $15.

WASHINGTON (Reuters) -- Secretary of State Antony Blinken beat back criticism of the withdrawal of U.S. troops from Afghanistan on Monday, at a contentious congressional hearing where at least one Republican called on him to resign.

In testy exchanges with lawmakers, Blinken defended President Joe Biden's decision to pull out and pushed back on accusations that the State Department might have done more to help Americans and at-risk Afghans to be evacuated, blaming the previous administration for lacking a plan.

He repeatedly noted that Republican

TOKYO -- Japan's benchmark Nikkei Stock Average index temporarily hit a 31 year-high on Tuesday morning, following gains in U.S. stocks.

The Nikkei index opened 137.4 yen higher at 30,584.77 yen, surpassing the closing price of 30,467 yen marked in February and putting it on track to close at the highest level since August 1990. The index's early gains on Tuesday come on top of

TOKYO -- Mitsubishi Motors plans to stop developing car platforms for the Japanese market and instead use vehicle bases made by ally Nissan Motor beginning around 2026, Nikkei has learned, the latest indication of realignment in an industry that requires huge investments in technology.

Mitsubishi aims to shift its research and development investment into electric vehicles and other technologies.

The plans show how difficult it has become for midsize automakers to maintain independent vehicle development as costs soar. Mitsubishi would be Japan's first automaker to terminate the development of

TOKYO -- Demaecan, a Japanese food delivery company backed by messaging app Line, on Monday said it will raise 80 billion yen ($726 million) in a move likely to intensify the cash-burning battle with its key rival Uber.

South Korea's Naver plans to invest 18 billion yen for an 8.3% stake in Demaecan, adding to a stake it already owns through a vehicle called Mirai Fund. Z Holdings, the parent company of Line and an affiliate of SoftBank Group

HONG KONG -- Voter turnout for Macao's legislative election plunged to a record low after most opposition hopefuls were disqualified, an ominous signal as officials in nearby Hong Kong prepare for year-end polls on similar terms.

According to preliminary data from the Macao Electoral Affairs Commission on Monday, only 42.4% of eligible voters participated in Sunday's public polls. This marked a drop of around 15 percentage points from the previous Legislative Assembly election in 2017 and the first time the turnout