Volatility's return is making a haven of Asia's emerging markets

Brazil and Hungary are projected to have the largest debt pile, Russia the least

The specter of volatile financial markets is prompting investors to be more selective in emerging markets and Asia is stacking up to be among the most resilient when it comes to economic measures.

Among the 22 developing economies, Taiwan and Thailand come out on top in terms of current-account balances, while Brazil and Hungary are projected to have the largest debt pile, data compiled by Moody’s Investors Service show.

“Emerging-market assets have been bought as a bulk, but not every economy will continue to attract foreign investors from here,” said Tsutomu Soma, general manager of SBI Securities Co.’s Independent Financial Advisor department