Fitch: Brexit has no direct APAC sovereigns, bank ratings impact

Reuters reports the latest note published by Fitch on the impact of Brexit decision in Asia.

Key Points:

Brexit has no direct APAC sovereigns, bank ratings impact

UK's vote to leave European Union has no immediate direct ratings impact on Asia-Pacific sovereigns or banks

Spike in political uncertainty in UK - and resulting effects on investor risk appetite - could pose greatest challenges for Asia in short term

Brexit will add to short-term challenges for japan to escape deflation as well as raise risks to export sector

Direct impact from UK trade on Asian economies is also likely to be limited

Emerging Asia will remain fastest-growing global region

China is likely to remain a much more significant driver of economic outcomes in APAC than Brexit

US Fed slowing pace of its rate increases, could play a key role in calming markets