The Wrap On Asia

This report examines currency dynamics and export trends across Asia, highlighting the decoupling of equity performance and currency strength in Korea, as well as structural import pressures on the Indian rupee.

Key Takeaways

• 1.The historical correlation between KOSPI equity performance and the South Korean won has weakened due to retail investor offshore allocation and corporate USD hoarding.
• 2.India's services export surplus is a key strength, though AI automation presents short-term headwinds, while import costs for energy and capital goods pressure the rupee.
• 3.Asian gold demand faces short-term policy headwinds from import restrictions in India and Malaysia, but underlying structural demand remains supportive.

Table of Contents

• Mapping out Asia
• ... in charts
• Corporate Directory
• DISCLAIMER

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