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.