Bank notes of different currencies are displayed on a wall in Hong Kong. Asia is better positioned to weather external shocks than other emerging markets – its macro conditions are robust and the region’s exchange rates have become more flexible, barring Hong Kong’s, which can serve as a shock absorber for domestic markets against volatile global capital flows. Photo: AFP

Opinion

Macroscope by Aidan Yao

Asia will outlast the emerging market bears, regardless of the short-term flux

Aidan Yao says while the sell-off that has hit emerging markets as an asset class does carry the risk of contagion, Asia’s solid fundamentals will ensure it weathers the storm

Aidan Yao

Published: 11:45am, 6 Jun, 2018

Updated: 10:30pm, 6 Jun, 2018

Bank notes of different currencies are displayed on a wall in Hong Kong. Asia is better positioned to weather external shocks than other emerging markets – its macro conditions are robust and the region’s exchange rates have become more flexible, barring Hong Kong’s, which can serve as a shock absorber for domestic markets against volatile global capital flows. Photo: AFP

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Aidan Yao

Aidan Yao is senior emerging Asia economist at AXA Investment Managers. Prior to joining AXA IM, he was a senior financial market analyst at the Hong Kong Monetary Authority for two years. He started his career at the Reserve Bank of New Zealand in 2007, serving as an economist and later senior financial market analyst until late 2011. He holds a master degree in finance (2006) and a bachelor degree in economics and finance (2005) from the University of Otago (NZ). He is also a chartered financial analyst.