India among Asia's least exposed to Brexit: Morgan Stanley

Mumbai

INDIA'S economy will be among the least impacted in Asia by the UK's vote to exit the European Union given its relatively low exposure to trade, according to Morgan Stanley.

"Increased uncertainty in the external environment due to UK's vote should add to downward pressures on growth and inflation in the region," Morgan Stanley economists, including Chetan Ahya in Hong Kong, wrote in a report. "Hong Kong, Singapore, and Malaysia will rank as those which are most exposed, while the economies of Thailand, Indonesia, Taiwan, Korea and China would be moderately exposed and India and Philippines would be least exposed on a relative basis."