Australia's S&P/ASX 200 index closed down 33.40 points (-0.38%) at 8,782.70 on Tuesday, June 23.

At a FORCE conference media briefing, Volcano Engine president Tan said online Seedance revenue figures circulating are overstated and inaccurate. He said short-form drama and film are only a tiny use case; the model is already deployed across manufacturing, retail, education, embodied intelligence and autonomous driving for multilingual product marketing, industrial training videos and synthetic simulation/synthetic data, and industry demand has not yet peaked.

UK Chancellor Reeves said the defence investment plan will be sized to match the scale of the challenge.