Hong Kong's High Court has found media tycoon Jimmy Lai guilty on multiple charges, including conspiring to collude with external forces and conspiracy to publish seditious materials. This marks the first case under Hong Kong's National Security Law involving the crime of collusion with foreign forces, making it a landmark verdict with legal and political implications for the city. What do we know about the ruling, and why does it matter for the city's security and stability? In the second half of the program, we'll turn to Japan where we examine Tokyo's plan for a record-high defense budget in 2026 and the ongoing tensions in China-Japan relations.