Halbis likes investment-grade corporate bonds issued by non-cyclical telecommunications and utilities sectors, she said.
China has about $2 trillion in foreign exchange reserves, the largest in the world.
Hong Kong, which has long benefited from its close links with the mainland, would also be in better shape than other export-oriented countries in the region, she said.
Even though the region will suffer from further deterioration, Asian countries remain relatively robust on the back of low external debt levels, healthy government fiscal accounts and comfortable foreign exchange coverage ratios, she said.
"These problems faced by Asian countries can be partly offset by the lowering of inflation pressure and stable current account outlook," Chan said.
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