SINGAPORE (June 25): Asian currencies and equity values have fallen in the past week amid great market turbulence. However, the declines in Asia have been modest in comparison with, for example, the sharp currency depreciations suffered by Argentina or Turkey. Signs of stabilisation of late have provided some relief to investors. But, as the global environment gets more troubled, will this pattern hold or will Asian emerging markets also come under severe pressure?

The global environment will get a lot more hostile

There are powerful forces at work that can only make things more difficult for asset prices in Asia.

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