The decision by Moody’s to lower its sovereign rating on China was flagged-up in ECR’s crowd-sourcing survey more than a year ago, and it will mean higher funding costs in the offshore market.

Confidence in the oil producer is wavering as a bank crisis unfolds.

Euromoney’s country risk survey shows political risk rising in 64 countries this year. The march of populism is a key factor investors must consider before chasing tempting returns, but there are many others to guard against.

A stronger yen-won exchange rate underlines Japan’s perception of safety with Seoul now plunged into a crisis, awaiting elections and wary of tensions escalating on the Korean peninsula.