Swati Pandey Bloomberg

A triumvirate of high oil prices, a surging dollar and geopolitical instability are set to weigh on India and Indonesia among Asia's emerging markets, while energy exporter Malaysia may prove a rare beneficiary.

Australia is eyeing India's burgeoning middle class to help offset the economic damage wrought to some of its major exports by the twin headwinds of Covid-19 and heavy restrictions imposed by its biggest trade partner, China.

A triumvirate of high oil prices, a surging dollar and geopolitical instability are set to weigh on India and Indonesia among Asia's emerging markets, while energy exporter Malaysia may prove a rare beneficiary.

Australia is eyeing India's burgeoning middle class to help offset the economic damage wrought to some of its major exports by the twin headwinds of Covid-19 and heavy restrictions imposed by its biggest trade partner, China.