They run like a flock. But Korea's very much at the front of the pack and Indonesia and Malaysia are at the back of this one.

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In Korea, already you can see the baton passed from exporters to domestic consumption.

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It's really moving off the back of the U.S. markets and anticipation about where interest rates will ultimately settle here. The knee jerk instinct in reading the Fed statements [earlier in the week] was that rates were going much higher than the 5% the market had settled on; I think as people have time to pause and reflect... the Fed is closer to stopping than people were worried about earlier.

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