Thread by @Trinhnomics

China (SCHOMP & Shenzhen) & HSI (55% Mainland listing) down most today on this whole oil grinding higher story as we know that China is a massive net importer of oil (net deficit of 258bn in 2018). India is down too as it imports a lot of oil too (72bn). So is Singapore 13.4bn👇🏻

https://twitter.com/Trinhnomics/status/1173612005128671234

Asia and Oil 👇🏻👇🏻👇🏻

No one wins except Malaysia (and of course Brunei but not in my universe of coverage so I never really include it 🙎🏻‍♀️)

Asia and Oil, Gas and Food (all the essentials to fuel a modern life). Chart organized by biggest net importer of essentials

China, Japan, South Korea, India, and Taiwan are the biggest (Japan largest of GAS & FOOD!). Malaysia is the only country w/ total SURPLUS of essentials.

You can see here that Malaysia, Vietnam, Indonesia are top net exporters of essentials but note that their surplus is no where close to the NET DEFICIT OF THE REST OF ASIA.

In other words, Asia is a NET DEFICIT of essentials. Asia net deficit (USDbn):
Oil -599
Gas -134
Food -101

Biggest net importer of natural gas by economy:

Japan
China
Korea
India
Taiwan
Singapore
Hong Kong
Vietnam
the Philippines

Malaysia has a 10bn surplus of LNG & so does Indonesia at 8bn 👇🏻👇🏻👇🏻

Asia and Food

Net import in USD, peach 🍑columns. Biggest:
China -64
Japan -64
Korea -22
Hong Kong -17
Taiwan -10
the Philippines -7
Singapore -2

FOOD SURPLUS from largest:
Thailand 19
Indonesia 18
Australia 15
India 14
Vietnam 11
Malaysia 6

Bottom line: China, Japan and South Korea are the biggest importers of essentials in Asia.

In the event of an oil shock, China, Japan and India most affected. In an event of a food shock, China, Japan and Korea (also HK) most affected.

A depreciation of FX impacts essentials👈🏻