1. Research

How is the war in Ukraine likely to impact Asian markets?

Sameer Goel

Luke Templeman

In this episode
Sameer Goel, Global Head of Emerging Markets Research, discusses the impact of the war in Ukraine on Asian markets, including the complex trade relationships that have knock-on effects on the rest of the world.

How is the war in Ukraine likely to impact Asian markets?
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What we discuss 
  • It’s been slightly over a month since the Russia invasion of Ukraine began. Given Asia has very limited direct trading relationships with Russia and Ukraine, have the regional markets been relatively unimpacted compared with the rest of the world?
  • The region has underperformed versus other emerging market economies. What is the main spillover from what has been happening in Eastern Europe?
  • How have central banks in Asia reacted to the shock in energy prices? Do they worry this is an inflation shock, or are they more concerned about purchasing power for consumers?
  • Have the worsening risks in China also contributed to the region’s underperformance over the past few weeks?
  • Are there longer-term structural implications for the regional macro and financial markets from what is happening at the moment?

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