Twitter's ad revenue plunged due to mismanagement and current economic conditions. Lest we forget, when Musk took over, the workforce dropped by 80%, which meant, first of all, that a lot of advertisers lost over night their contacts at Twitter. And while moderation may have stayed in place, Elon Musk also started unblocking far-right accounts and he can't keep his mouth shut.

I can't speak for Asia, but multinational brands (like Coca-Cola) are actively avoiding controversy and you don't need activists for such an effect.