ASEAN markets face market turmoil due to oil price fluctuations.
The study looked at how changes in oil prices affect stock markets in four ASEAN countries. They found that when oil prices go up or down, it can impact stock market returns differently in each country. Malaysia's market performance suffers when oil prices drop, while Singapore and Thailand are hurt by oil price shocks. This is because of factors like how dependent the country is on oil, how developed their financial systems are, and how open they are to trade.