The article explores how stock markets in Asia are connected to each other and to global markets. They found that international markets are closely linked, with over half of market shocks coming from other countries. Asian markets have become more connected over time, especially during crises. Despite their growing importance, Asian markets still have a smaller impact on advanced economies. Advanced countries mostly transmit shocks, while Asian markets receive them. Economic policy uncertainty in the US affects many international markets, while financial market uncertainty mainly impacts advanced economies.