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Oil Surge Reshapes Outlook for Asian Stocks, Currencies – SCMP

Risks of a rise in consumer prices and disruption to current-account balances have triggered strong foreign outflows from equities


Indonesia
A few resources-rich nations, like Indonesia, are among the beneficiaries as their markets are holding up amid the downturn since Russia invaded Ukraine. Sanctions against Russian oil pushed the price of Brent crude to as high as US$139 a barrel earlier in the week Photo: AFP

 

The historic surge in oil is reshaping the outlook for Asian equity and currency markets, as the spectre of prolonged high prices exposes the vulnerability of energy-dependent countries, the South China Morning Post reported.

Risks of a rise in consumer prices and disruption to current-account balances have triggered strong foreign outflows from equities in markets like India and South Korea in recent days, spurring weakness in their currencies.

 

Read the full report: South China Morning Post

 

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

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