Asian crisis redux? S&P says no

SINGAPORE: Is the Emerging Asia market on the verge of another financial crisis? No, says Standard & Poor's.

In its report, “South And Southeast Asian Economies Grapple With Growth And External Financing Risks”, the rating agency says the current market turbulence is largely driven by uncertainties around the timing of cutback in bond purchases by the Federal Reserve, which has unfortunately coincided with recent cuts in GDP growth forecast in Asia, most notably for China.