Fitch on Brexit impact in Asia - No direct APAC sovereigns, bank ratings impact

• 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

A sanguine view from Fitch. In this interconnected world I wonder if they are right to be so.