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Wednesday, February 8, 2023

Asean ready to take on market volatility

UOB cites region’s strong fundamentals

A woman walks past the national flags of member states of the Association of Southeast Asian Nations (Asean) at Suntec City convention and exhibition centre in Singapore. (Photo: AFP)

Major Asean economies should be able to survive volatile market swings in 2023 following similar turmoil last year thanks to the region’s strong fundamentals, says Singapore-based United Overseas Bank (UOB).

Asean countries rode out volatile markets in 2022, beset by lingering effects of the pandemic, Russia’s invasion of Ukraine, US-China tensions, sharp price spikes and supply disruptions of energy and commodities, inflation spikes around the world, aggressive interest rate…

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