Asian investors have made the difference locally, stepping in to buy on the strength of their domestic economies. In the week ending July 19, when the S&P fell 8 percent, the Topix fell just 3 percent.
South Korea expects economic growth to double to 6 percent this year, while Singapore and Australia are on track to grow 4 percent. Japan's central bank said this month the world's second-largest economy is moving closer to a recovery from its third recession in a decade.
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