Reuters Market Eye - The growth risks to domestically driven countries like India, Indonesia, China and Philippines are lower than more open and trade dependant economies like Singapore and Hong Kong, says Standard & Poor's rating agency.
However, rising external financing risks can have negative repercussions on domestic growth for countries like India which have a high current account deficit.
"These rising external financing risks can have negative repercussions on domestic growth through tighter financing constraints and lower confidence, which is what we witnessed recently in India and Indonesia," says S&P in a report on Wednesday.
(Reporting by Suvashree Dey Choudhury)