We report measurements of the two-photon processes e+e−→e+e−π+π− and e+e−→e+e−K+K−, at an e+e− center-of-mass energy of 29 GeV. In the π+π− data a high-statistics analysis of the f(1270) results in a γγ width Γ(γγ→f)=3.2±0.4 keV. The π+π− continuum below the f mass is well described by a QED Born approximation, whereas above the f mass it is consistent with a QCD-model calculation if a large contribution from the f is assumed. For the K+K− data we find agreement of the high-mass continuum with the QCD prediction; limits on f′(1520) and θ(1720) formation are presented.
K^+K^- production in two-photon collisions has been studied using a large data sample of 67 fb^{-1} accumulated with the Belle detector at the KEKB asymmetric e^+e^- collider. We have measured the cross section for the process gamma gamma -> K^+ K^- for center-of-mass energies between 1.4 and 2.4 GeV, and found three new resonant structures in the energy region between 1.6 and 2.4 GeV. The angular differential cross sections have also been measured.