|  | | Hello from Tokyo. Today quietly marks the third anniversary of Hong Kong's national security law, introduced at the behest of Beijing. The law criminalizes secession, subversion, foreign collusion, and terrorism, and a total of 260 individuals have been arrested under the legislation so far. One of them is 71-year-old human rights lawyer and pro-democracy activist Albert Ho, the central figure of this week's Big Story. The story traces the arc of Ho's eventful life. Though at the forefront of the city's pro-democracy movement, he is clearly different from the young protesters that have risen to prominence over the past few years, such as Joshua Wong or Agnes Chow. Ho's feelings about Hong Kong and mainland China are perhaps more complicated. His situation is also dire: Diagnosed with lung cancer seven years ago, Ho is now in solitary confinement at Stanley Prison, a maximum security facility that lacks basic air conditioning. By examining Ho's journey, we can better understand the evolution of Hong Kong's identity since its return to China from British rule in 1997. The people who call the city home are still conflicted about whether to refer to themselves as Hongkongers or Chinese. Tomorrow is the 26th anniversary of the handover. |  | | Today also marks the last day of this year's Pride month, which celebrates LGBTQ culture and the support of LGBTQ rights. Our Asia Insight feature takes a closer look at the gradual progress of transgender rights in Asia, partly told through the powerful personal story of a transgender woman living in Iran who experienced gender dysphoria and endured bullying and harassment throughout her life. I also recommend our report on the recent G7 ministers meeting for gender equality, which took place in Nikko, north of Tokyo. Business Spotlight focuses on the "K-wave" in the U.S. from a business perspective. Like many other countries, the U.S. is enjoying the rising tide of South Korean culture -- from music and film to television and even food. South Korean boy band BTS and idol group Blackpink have stormed the American charts; "Squid Game" was named Netflix's most-watched series; and the streaming giant's co-CEO Ted Sarandos visited Seoul last week to discuss plans for more Korean content. The story goes further, noting that the K-wave is helping to accelerate investment by South Korean companies in the U.S. Also rising are Japanese stocks, which are by far the best performers globally this year. The Nikkei Stock Average has gained 26%, but the persistently weak yen means that in dollar terms, the gains are only 18%, according to QUICK FactSet. In other words, an American investor would have earned a return of 18% by investing dollars into Japanese stocks, due to an 8% drop in the yen's value against the greenback, explains this week's Market Spotlight. On Friday the yen continued to weaken, briefly hitting 145 against the dollar, marking nearly a seven-month low. Lastly, this week's recommendation from the Life & Arts section is a piece from Cambodia, where globally watched general elections are expected to take place next month. The story is not about the polls, though, but rather about Ros Rotanak, also known as Chef Nak, who is on a quest to collect and preserve traditional Khmer recipes. | | Wishing you a wonderful weekend! Shin Nakayama Editor-in-chief, Nikkei Asia |
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| The editor's choice |  | Rights lawyer Albert Ho has loved China for decades. Now he may die in jail for it Read more |
 | Gradual LGBTQ advances in some countries shrouded by stigma, safety concerns Read more |
 | Music, drama fan 'huge tailwind' for Korean investment in states like Georgia Read more |
 | Rally more sustainable if accompanied by a moderately stronger currency, analysts say Read more |
 | Finance minister warns against excessive weakening of Japanese currency Read more |
 | Like many good foodie stories, chef's rise to fame starts with missing home Read more |
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