Asian markets might be underestimating Brexit

Secret meetings in Brussels and across Europe reveal huge uncertainty, officials and diplomats familiar with the proceedings say, over what would follow a vote that British Prime Minister David Cameron calls a "leap in the dark" - and also no little concern about what happens if Britain stays on.

SINGAPORE: A British vote to leave the European Union (EU) tomorrow could send Asia’s emerging markets into a tailspin – yet investors in the region appear surprisingly calm about both the prospect of a Brexit and its impact on markets.

Most startling are current market expectations that place the probability of a Brexit – a British vote to exit the EU – much lower than what actual political polling suggests.