How will Brexit impact Asian markets?

Britain still attracts substantial investment from Asia. Many Asian firms have established European Head Quarters in the country. How hard will Brexit hit Asian markets? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his insights in China Daily – Asia Weekly.

Brexit will impact companies from Asia with operations in the UK, since they will no longer benefit from any of the EU’s Free Trade Agreement’s (FTA) with non-EU countries. Britain will need to replace these with bilateral FTAs – and fast.

Perera noted that beyond the short-term effects on foreign exchange markets and global capital, the effect will be to depress the long-term outlook for the UK.

Having said that, Brexit may induce portfolio managers to divert funds to Asia. This could strengthen Asian asset prices and currencies.

What remains to be seen is if any city can replace London as the financial center of the EU.

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This release was published on openPR.