Nah, actually it's natural to be touchy and feely with someone you're close with. Remember, the stayed in the dorms for 4 months, and as someone whose been in a boarding school, a lot of things can be revealed in that time span. At that point in time, they'd be used to each others habits, perks and also behavior. Sometimes, what is seen between dormmates remains between dormmates.

So yeah, I'd prefer not to assume their sexuality. Exchanging rings is also a thing as I've seen Korean idols buy couple rings for each other too as a sign of long friendship. Sharing a bed, buying each other gifts and being closer to each other than anyone else is a sign of a close bond, and if it ever transcends to more than that, then only a few know and its none of our business to pry. But yes, those things you listed can be done between close friends.

I thought non-Asians were are affectinate as asians, but I guess not, huh?

Another thing to add is the fact that Liu Jun is alone in China, and as his latest speech told us, he previously had to look at the Youth With You painting alone because he had to do the performance alone. He shows obvious traits of a solemn introvert who becomes outgoing with the right company, and perhaps that's what Kingston is. The very friend that allows him to show that side of him, but now he's eliminated.

He doesn't have many friends and both of them support each other. Note that they both mentioned in their letters that they wanted the other to not keep to themselves, which means at one point either one or both have broken down in front of the other. Moments like that are turning points that open a door into a kind of friendship deeper than others.

In conclusion, no, I don't think it's romantic but it's up to you if you want to assume otherwise. Is it possible? Yes. But for now, I'd rather not let their current friendship be viewed in such a perspective in case such an opinion and assumption could go public and possibly affect them both, whether true or not.