Asean winners and losers in Russia-Ukraine war

WHILE most of Asean does not have direct exposure to Russia, markets in the region are likely to face headwinds from supply shocks on key manufacturing and agricultural imports, as well as higher food and energy prices.

Russia's invasion of Ukraine has seen the US and its allies imposing economic sanctions on Russia, a major exporter of metals, food and energy.

The region's economic recovery was set to firm up in 2022, said Fitch Ratings in a report, but rising commodity prices as a result of the conflict are a growing risk.