Yes, racism and xenophobia certainly exist in Asia. My experience is that reporters from the US seem to be very reluctant to discuss these kinds of issues. Any cases of apparent racism or xenophobia in the US or Europe are immediately reported, but issues in Asia tend to be ignored.
My opinion is ignoring racism in Asia while highlighting cases in western countries is actually a subtle form of racism. Reporting about racism in Asia can be “culturally insensitive”.
On the other hand, people of European origin are implicitly assumed to haver the same culture so any alleged racism can be freely criticized.
If you doubt that the difference, compare the titles of these two Wikipedia articles:
Racism in Russia
Ethnic issues in China