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Japan, who had also shocked Germany in their opener in Qatar, finished top of Group E to reach the last 16, a stage where they have faltered three times before.
The G77 bloc of developing countries and China are proposing a 'loss and damage' fund should be created to provide money to countries already hit by climate disasters.
It was the latest setback for the 24-year-old, who sat out the entire grasscourt season with an Achilles injury.
The 30-year-old played out of his skin and saved three match points, only to endure the agony of losing it in the end, as Chou emerged victorious in a pulsating contest.
Prannoy saw off eighth-seeded Loh 22-20, 21-19 in a 44-minute clash.
No. 12 Coco Gauff and 20th-seeded Madison Keys set up a third-round match-up.
Venus lost to Alison Van Uytvanck and Emma Raducanu was defeated by Aliz Cornet. Osaka lost to Danielle Collins.
It was Srikanth's first win over his Malaysian opponent Lee Zii Jia in four meetings.
She also was simply outplayed by Cornet, a 32-year-old from France who beat past major champions Simona Halep at the Australian Open, Jelena Ostapenko at the French Open and Iga Swiatek at Wimbledon, ending the No. 1-ranked woman's 37-match winning streak at Wimbledon.
The US Open draw did Serena no favours, the 40-year-old American landing in the bottom quarter where fifth-seeded Tunisian Ons Jabeur, the Wimbledon runner-up, 10th-seeded Daria Kasatkina and last year's losing finalist Leylah Fernandez all lurk.