Co-founder of Cube Asia, Cube Asia

Simon Torring

Co-founder of Cube Asia

Defining Social Commerce in Southeast Asia

Cube Asia

We offer granular market data and insights for online retail in Southeast Asia, helping brands and retail companies drive profitable growth. 

Why the Cube?
3 dimensions of granularity to help you get deep into the 1) geographies, 2) categories, and 3) types of data and insights you need for your business.

The Cube is a big-data machine that is continuously listening to public data sources and primary research, and triangulating across thousands of data points using probabilistic modeling to produce an accurate and granular picture of Southeast Asia’s online retail landscape.

Thematic (Sector/Industry)

<ul><li>Running the same skincare brand strategy across Shopee, Lazada, and TikTok Shop in Thailand is one of the most common and costly mistakes in e-commerce.</li><li>Each platform has a distinct competitive landscape, a different split between official brand stores and third-party sellers, and a different category mix.</li><li>Q4 2025 data from Cube’sAstroplatform shows just how different these three channels really are.</li></ul>

Running the same skincare brand strategy across Shopee, Lazada, and TikTok Shop in Thailand is one of the most common and costly mistakes in e-commerce.Each platform has a distinct competitive landscape, a different split between official brand stores and third-party sellers, and a different category mix.Q4 2025 data from Cube’sAstroplatform shows just how different these three channels really are.

Why the Same Skincare Brand Strategy Won’t Work Across Shopee, Lazada, and TikTok Shop in Thailand

<ul>
<li>Southeast Asia’s e-commerce landscape shifted more in 2025 than in any year since TikTok Shop entered the region.</li>
<li>This article covers six core Southeast Asian markets: Indonesia, Malaysia,Philippines, Singapore, Thailand, and Vietnam.</li>
<li>Cube tracksGMVacross Shopee, Lazada, and TikTok Shop of all six core Southeast Asian markets on a monthly basis.</li>
</ul>


Southeast Asia’s e-commerce landscape shifted more in 2025 than in any year since TikTok Shop entered the region.
This article covers six core Southeast Asian markets: Indonesia, Malaysia,Philippines, Singapore, Thailand, and Vietnam.
Cube tracksGMVacross Shopee, Lazada, and TikTok Shop of all six core Southeast Asian markets on a monthly basis.


Shopee, Lazada, and TikTok Shop in Southeast Asia: What the Data Shows in 2026

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>Global funds remain structurally underweight Asia, with Japan and China &amp; HK widely held but still below index weight; India stands out as the clearest consensus underweight.</li>
<li>Taiwan Technology dominates sector positioning as the largest regional overweight, while Australian and Asian Financials are structural underweights; rotation shows China sectors and Japan Financials/Industrials gaining traction.</li>
<li>Stock leadership is highly concentrated in TSMC, now owned by 61% of funds; second-tier names stagnate while SK Hynix, BYD, and Sea Ltd attract rising investor participation.</li>
</ul>


Global funds remain structurally underweight Asia, with Japan and China &amp; HK widely held but still below index weight; India stands out as the clearest consensus underweight.
Taiwan Technology dominates sector positioning as the largest regional overweight, while Australian and Asian Financials are structural underweights; rotation shows China sectors and Japan Financials/Industrials gaining traction.
Stock leadership is highly concentrated in TSMC, now owned by 61% of funds; second-tier names stagnate while SK Hynix, BYD, and Sea Ltd attract rising investor participation.


Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

<ul>
<li>UOBKH raises Pan-United target price to $1.33 due to Terminal 5 contract and demand.</li>
<li>OCBC raises Nanofilm's fair value to 79 cents, but outlook is uncertain.</li>
<li>Maybank and DBS boost Sea Limited's target prices due to Shopee and gaming growth.</li>
</ul>


UOBKH raises Pan-United target price to $1.33 due to Terminal 5 contract and demand.
OCBC raises Nanofilm's fair value to 79 cents, but outlook is uncertain.
Maybank and DBS boost Sea Limited's target prices due to Shopee and gaming growth.


Singapore Market Roundup (12-Sep-2025): UOBKH lifts Pan-United target to $1.33 on Terminal 5 deal.

<ul>
<li>OCBC's Lim raises Nanofilm's fair value to 79 cents, citing uncertain outlook.</li>
<li>Brokers’ Digest: Suntec REIT, BRC Asia, YZJ Financial, CNMC Goldmine, Prime US REIT.</li>
<li>Maybank and DBS lift Sea Limited target prices due to higher Shopee take-rates.</li>
</ul>


OCBC's Lim raises Nanofilm's fair value to 79 cents, citing uncertain outlook.
Brokers’ Digest: Suntec REIT, BRC Asia, YZJ Financial, CNMC Goldmine, Prime US REIT.
Maybank and DBS lift Sea Limited target prices due to higher Shopee take-rates.


Singapore Market Roundup (11-Sep-2025): OCBC's Lim Ups Nanofilm's Fair Value to 79 Cents

Singapore

Sea Limited is a Singapore-based global technology company founded in 2009. It operates three core businesses: digital entertainment through Garena, e-commerce via Shopee, and digital financial services under Monee. The company is headquartered in Singapore.

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Sea Ltd (SE US)

Why the Same Skincare Brand Strategy Won’t Work Across Shopee, Lazada, and TikTok Shop in Thailand

Running the same skincare brand strategy across Shopee, Lazada, and TikTok Shop in Thailand is one of the most common and costly mistakes in...

Simon Torring

Shopee, Lazada, and TikTok Shop in Southeast Asia: What the Data Shows in 2026

Southeast Asia’s e-commerce landscape shifted more in 2025 than in any year since TikTok Shop entered the region. This article covers six core...

Simon Torring

Global Fund Positioning in Asia

Global funds stay structurally underweight Asia, with Japan and China leading the way. Taiwan Tech dominates sector overweights, while TSMC tops...

Steven Holden

Singapore Market Roundup (12-Sep-2025): UOBKH lifts Pan-United target to $1.33 on Terminal 5 deal.

UOBKH raises Pan-United's target price to $1.33, while OCBC increases Nanofilm's fair value to 79 cents amid an uncertain outlook.

Singapore Market Roundup

Singapore Market Roundup (11-Sep-2025): OCBC's Lim Ups Nanofilm's Fair Value to 79 Cents

OCBC's Lim raises Nanofilm's fair value to 79 cents amid uncertainty. Maybank and DBS increase Sea Limited target prices due to higher Shopee take...

Singapore Market Roundup

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)