Since the early 2000s, Asian capital markets have grown significantly. Globally, they now account for one third of market capitalisation, half of the listed companies and one-third of corporate bond market activity. In 2025, however, Asian markets faced a more challenging environment, shaped by rising interest rates, high debt levels and increasing geopolitical tensions, including trade policy uncertainty, affecting valuations and investment flows to the region.
This report provides a comprehensive analysis of Asian capital markets, covering the latest trends in public and private equity, and sovereign and corporate debt. It examines stock valuation trends, the growing influence of institutional investors, the role of human capital in value creation and the expansion of digital finance, including crypto-assets. The report also offers policy considerations to support capital market development across the region.
