HSBC: Asean will be 'surprisingly resilient' in global slowdown

Singapore

THE world may be set for a synchronised global slowdown, but if it is any comfort to investors, Asean's growth will be "surprisingly resilient" because of strong domestic demand, active fiscal policy and moves toward regional trade liberalisation, HSBC has said.

At an outlook briefing on Friday, Frederic Neumann, co-head of Asian economics research at the bank, noted that the heightened financial volatility over the past year does not seem to have hit domestic demand in Asean economies by much.